Federal taxes increased in 1932, 1935 and 1937, and Social Security taxes were imposed in 1937 . Which group is credited for these tax increases during the Great Depression?

Refer to Table 1-2. What is Julius's marginal cost if he decides to stay open for three hours instead of two hours?

A) $0 B) $18 C) $54 D) $65

Which of the following conditions describes a recessionary gap?

A) The short-run equilibrium level of real GDP is above the long-run level of real GDP. B) The short-run equilibrium level of real GDP is below the long-run level of real GDP. C) The actual interest rate is above the equilibrium interest rate. D) The actual interest rate is below the equilibrium interest rate.