If both the demand and supply increase, the equilibrium quantity ________ and the equilibrium price ________
A) increases; falls
B) decreases; might rise, fall, or not change
C) decreases; rises
D) increases; might rise, fall, or not change
D
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Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
For all points below the 45-degree line, planned aggregate expenditure will be less than GDP
Indicate whether the statement is true or false
If a firm produces nothing, then its:
A. variable costs equal zero. B. fixed costs equal zero. C. total costs equal zero. D. All of these are true.
A recent economics graduate is looking for a position as an industrial economist. During the period this individual starts looking for a job and ultimately finds one, he may be classified as:
a. seasonally unemployed. b. frictionally unemployed. c. cyclically unemployed. d. structurally unemployed. e. occasionally unemployed.