From any point above the current LM curve, money market equilibrium can be restored by some combination of a ________ income and a ________ interest rate

Which of the following accurately describes an effect of hurricane Katrina on GDP?

A) GDP would increase reflecting the decrease in production that occurred during the storm and the productive capacity lost in the storm. B) GDP would increase well-being. C) GDP would increase reflecting the costs of cleanup. D) GDP would decrease reflecting the costs of cleanup.

The perfectly competitive firm's supply curve:

A) coincides with its perfectly elastic demand curve. B) is perfectly inelastic at the market price. C) is the firm's marginal cost curve above the minimum point on the AVC curve. D) is the firm's average total cost curve above the shutdown point.