Campaign speeches normally include normative economic statements

In the above figure, the aggregate demand curve is AD2, so the long-run equilibrium level of real GDP is

A) $16 trillion. B) $16.5 trillion. C) more than $16 and less than $16.5 trillion. D) None of the above answers is correct.

If two goods have a ________ cross-price elasticity of demand, then the antitrust agencies can conclude that the products ________ compete in the same market as strong substitutes.

A) large; do not B) small; do C) zero; do D) large; do