Referring to the Aggregate Demand - Aggregate Supply diagram in Figure 8.1, which box should be filled with the label RGDP for the Real Gross Domestic Product? 

According to this Application, the recession in 1981 was caused by

A) the government cutting back on aggregate demand to reduce inflation. B) increasing oil prices which resulted in a decrease in aggregate supply. C) massive immigration from Europe to the United States. D) an decrease in aggregate supply resulting from U.S. bank collapses.

A standard which came to the market first, such as the QWERTY letter layout in typewriters, can become entrenched (this layout is still used for computer keyboards today). What is this phenomenon called?

A) path dependency B) sunk cost C) comparative advantage D) network externalities