Use the following to answer questions:
Figure: Policy Alternatives 
-(Figure: Policy Alternatives) Refer to Figure: Policy Alternatives. If the economy is in equilibrium at Y1 in panel (b) , it is in:
Definitions:
Work-In-Process Inventory
Items in production that are not yet completed, considered a current asset on a company's balance sheet.
Finished Goods Inventory
Products that have completed the manufacturing process and are ready to be sold to customers.
Manufacturing Overhead
All indirect costs associated with the manufacturing process, such as utilities, maintenance, and factory management salaries.
Raw Materials Inventory
Raw materials inventory consists of the basic materials and components a company holds that will be used in the production process to create finished goods.
Q71: (Figure: Planned Aggregate Expenditures Curve III)Use Figure:
Q118: (Table: The National Income Accounts)Use Table: National
Q122: If the marginal propensity to save is
Q168: (Figure: AD-AS Model II)Refer to Figure: AD-AS
Q201: Expansionary fiscal policies:<br>A) make the budget surplus
Q213: The difference between a budget deficit and
Q222: An inflationary gap is automatically closed by
Q286: Examples of fiscal policy do NOT include:<br>A)
Q292: The three tasks of a financial system
Q293: In response to a negative supply shock,the