A negative demand shock would lead to a decline in both the price level and output in the short run

In the above figure, if the market is competitive and unregulated, then at the equilibrium amount of output the marginal social benefit is

A) less than the marginal cost to producers. B) greater than the marginal social cost. C) equal to the marginal cost to producers. D) equal to the marginal private benefit from consumption.

When economy-wide business activities are increasing, they are referred to as

A) contractions. B) expansions. C) anti-cycles. D) corrections.