If Dave and Jesse are the only two fishermen in town and neither is bothered by the other's fishing, the lake they fish in is not a common resource
a. True
b. False
Indicate whether the statement is true or false
True
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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
An opportunity cost is:
a. the value obtained when making a choice. b. the price paid for the choice that is made. c. what must be given up to obtain something that is desired. d. what must be given up to obtain something that is not desired.
The trade philosophy of the Clinton administration is best characterized as
a. protectionist. b. mercantilist. c. free trade. d. strategic trade.
When a $500 check is cleared from Bank A to Bank B, the M2 money supply:
a. Increases permanently. b. Falls permanently. c. Does not change.