The current U.S. average tariff rate is
A) less than 5 percent.
B) greater than 10 percent.
C) approximately 20 percent.
D) over 50 percent.
A
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Approximately two decades after a "baby boom," one could expect: a. production to change from an interior point to a point along the production possibilities curve. b. a movement along the production possibilities curve from one point to another
c. an outward shift of the production possibilities curve along both axes. d. an inward shift of the production possibilities curve.
______ and ______ are explanations of how things work that help us understand and predict how and why economic agents such as consumers, producers, firms, government, and so on behave the way they do.
a. Correlations; models b. Theories; models c. Theories; aggregates d. Correlations; aggregates
Answer the following statement(s) true (T) or false (F)
1. Falling real GDP per capita can bring on unemployment, bankruptcies, and many other human hardships. 2. With nonmarket transactions, no money is exchanged. 3. The underground economy is excluded from the GDP because it goes unreported to the government. 4. If people start taking more three-day weekends, GDP and people’ s economic well- being will necessarily drop. 5. The GDP often reflects important changes in the improvements in the quality of goods.
Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap. 
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary