Economists use the term "ceteris paribus" to indicate that:
a. the analysis is true for the individual but not for the economy as a whole
b. supply and demand are in balance.
c. their conclusions are based on normative rather than positive economic analysis.
d. other things are assumed to remain constant.
d
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An economist defines efficiency as:
a. the maximization of output from available resources. b. the maximization of revenue from available resources. c. the maximization of inputs using available resources. d. the creation of a surplus using available resources.
For two goods, X and Y, to be classified as substitutes, it must be the case that:
A. X and Y are identical. B. when the price of X rises, the demand for Y increases. C. when the price of X rises, the demand for Y decreases. D. consumers tend to purchase both items together.
If an economy is operating at short-run equilibrium below the full-employment level of real GDP, the self-correction model result is that:
A. unemployment increases. B. unemployment falls. C. cyclical unemployment increases. D. frictional and structural unemployment increase.
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward