The economy's aggregate supply curve reflects
A) A normal range. B) A Keynesian or depression range.
C) A classical range. D) All of the above.
Answer: D
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If the government decreases taxes, which of the following would occur?
a. An increase in GDP, an increase in the price level, an increase in money demand, and an increase in the interest rate b. An increase in GDP, a decrease in the price level, an increase in money demand, and a decrease in the interest rate c. A decrease in GDP, a decrease in the price level, a decrease in money demand, and a decrease in the interest rate d. A decrease in GDP, a decrease in the price level, an increase in money demand, and an increase in the interest rate e. An increase in GDP, an increase in the price level, a decrease in money demand, and a decrease in the interest rate.
Randomized controlled trials:
A. choose people randomly to measure the impact of a particular intervention, saving the cost of evaluating all participants. B. randomly assign people into control and treatment groups in order to focus on the impact of a particular intervention. C. are not a useful tool in assessing how specific interventions may influence economic development. D. control how much of a treatment is given to each participant in order to measure the ideal quantity.
In the above figure, if the economy is initially at an equilibrium output at point A and the interest rate is r1, then an open market purchase of bonds by the Fed will
A. cause interest rates to increase and output to decline. B. cause interest rates to decline to r2, investment to increase to I2, and the AD curve to shift upward to the right. C. not have any impact on short- or long-run equilibrium real Gross Domestic Product (GDP). D. cause interest rates to decline to r2, investment to decline, and aggregate demand to shift inward to the left.
Refer to the information provided in Figure 8.6 below to answer the question(s) that follow. 
Figure 8.6 Refer to Figure 8.6. Outdoor Equipment's average variable costs are minimized at the output level
A. between the intersections of curves 1 and 2 and curves 1 and 3. B. where curves 1 and 2 intersect. C. where curves 1 and 3 intersect. D. indeterminate with the given information.