Refer to above Table 2-2. The chain-weighted GDP deflator for year 2 is
A) 1.313.
B) 1.211.
C) 1.324.
D) 1.280.
D
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
If the government reduces expenditure on goods and services by $30 billion, then aggregate demand
A) increases by $30 billion and real GDP increases. B) decreases by more than $30 billion and real GDP decreases. C) increases by more than $30 billion and real GDP increases. D) decreases by $30 billion and real GDP decreases. E) increases and potential GDP increases.
Low demand consumers are indifferent between second degree and first degree price discrimination.
Answer the following statement true (T) or false (F)
A profit-maximizing firm will hire inputs until MRP = P of the input
a. True b. False Indicate whether the statement is true or false