You paid $145 for an iPod Nano. The cash you sacrificed is a(n)

A temporary increase in government spending that leads to only a small decline in lifetime wealth likely shifts the output demand curve to the

A) right by more than the rightward shift in output supply. B) right by less than the rightward shift in output supply. C) left by more than the leftward shift in output supply. D) left by less than the leftward shift in output supply.

The difference between the economy's potential output and its actual output relative to its potential output at a point in time is called the:

A. output gap. B. trade deficit. C. budget deficit. D. full-employment rate.