Refer to Figure 17-1. Suppose that the economy is currently at point A. If the Federal Reserve engaged in expansionary monetary policy, where would the economy end up in the short run?
A) It would remain at point A.
B) point B
C) point C
D) point D
E) point E
C
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Refer to the figure below. The absolute value of the slope of the demand curve D1 is ________, and the absolute value of the slope of demand curve D2 is ________. 
A. 5/4; 4/5 B. 4/5; 5/4 C. 1/2; 2 D. 2; 1/2
Refer to Table 20-8. Suppose that the data in the table above reflect the price levels in the economy. What is the inflation rate in between 2015 and 2016?
A) 2% B) 5% C) 10% D) 12% E) 20%
The father of modern economics that wrote The Wealth of Nations is:
a. Karl Marx b. John Maynard Keynes c. Adam Smith d. Thorstein Veblen
State and local government spending as a share of GDP has: a. decreased from 12% in 1960 to about 8% in 2014
b. increased from 12% in 1960 to about 20% in 2014. c. remained more or less stable at 12% between 1960 and 2014. d. increased from 20% in 1960 to about 30% in 2014.