If the percentage change in the price of a good is equal to the percentage change in the quantity demanded of that good, then the demand for that good is:

Refer to Table 7.1. As labor inputs increase from 5 to 6, output

A) increases by 98 units. B) increases by 16 units. C) increases by 12 units. D) increases at a negative rate.

In Figure 5-1 above, if the budget line BB0, the natural real GDP is $5300, and actual real GDP is $5000, then the cyclical budget surplus or deficit is the

A) horizontal distance between A and F. B) vertical distance between F and D. C) vertical distance A and F. D) horizontal distance between B and D.