Total governmental purchases—federal, state, and local combined—accounted for about what percentage of domestic output in 2012?

Refer to Figure 24-1. Ceteris paribus, an increase in firms' expectations of the future profitability of investment spending would be represented by a movement from

A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.

As the economy recovers from a recession, we should expect that demand for:

a. inferior goods will fall and demand for non-inferior goods will rise. b. all goods will rise. c. inferior goods will rise and demand for non-inferior goods will fall. d. all goods will fall. e. complements will fall.