The mutually understood customs the two parties involved in a transaction follow from experience are known as _____
a. focal points
b. norms
c. cores
d. strategies
B
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Of the following, the federal government obtains most revenue from
A) sales taxes. B) Social Security taxes. C) property taxes. D) excise taxes. E) corporate income taxes.
The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
Under the rational criminal model, a decrease in the punishment associated with getting convicted will
A. increase crime. B. have no effect on crime. C. increase the caseload in the appellate court system. D. decrease crime.
?Exhibit 10A-1 Aggregate demand and supply model
Beginning from long-run equilibrium at point E1 in Exhibit 10A-1, the aggregate demand curve shifts to AD2 . The real GDP and price level (CPI) in short-run equilibrium will be:
A. $12 billion and 200. B. $8 billion and 250. C. $8 billion and 150. D. $12 billion and 250.