Refer to Figure 4-6. What area represents consumer surplus at P2?

Assume the economy is initially in equilibrium where potential GDP is greater than real GDP

If the expected inflation rate, the term structure effect, and the default-risk premium are constant, a decrease in the Fed's target short-term nominal interest rate will ________ the MP curve and the output gap will become ________. A) shift up; smaller B) shift up; larger C) shift down; smaller D) shift down; larger

Between 1960 and 2001, the labor force participation rate increased for each of the following groups except

a. married women b. married men c. single women d. single men