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
Answer: D
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Countries with a low standard of living have low levels of total factor productivity. List 5 reasons that account for the low levels of total factor productivity
What will be an ideal response?
Does the existence of unemployment insurance eliminate the economic costs of unemployment?
The purpose of the IMF is to:
A. provide developing countries with short-term loans and technical assistance. B. determine monetary and fiscal policy in developing countries. C. determine exchange rates for developing countries. D. buy and sell the currencies of developing countries in order to stabilize their value.
Refer to the information provided in Figure 31.1 below to answer the question(s) that follow.
Figure 31.1Refer to Figure 31.1. Economic growth is represented by
A. a movement from point D to point A. B. a movement from point A to point C. C. a movement from point D to point C. D. all of the above