Profit can be defined as the...
What will be an ideal response?
difference between the sales revenue of a business firm and the opportunity cost of the resources required to produce the goods supplied by the firm
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In a certain economy, the components of aggregate spending are given by:C = 60 + 0.6(Y - T) - 1,000rI = 200 - 1,000rG = 200NX = 50T = 100Given the information about the economy above, what would be the impact on short-run equilibrium output of a one-percentage-point increase in the real interest rate from 4 percent to 5 percent?
A. Short-run equilibrium output would decrease by 2,000 units. B. Short-run equilibrium output would decrease by 20 units. C. Short-run equilibrium output would increase by 55 units. D. Short-run equilibrium output would decrease by 50 units.
If velocity is growing by 2 percent per year and real output is growing 6 percent per year, according to the equation of exchange, in order to maintain stable prices, the money supply would have to: a. grow by 3 percent
b. grow by 4 percent. c. grow by 8 percent. d. grow by 12 percent.
While some economists argue that population growth reduces __________ ?growth, others contend that the opposite is true. The latter economists consequently believe that immigration should be encouraged rather than discouraged.
Fill in the blank(s) with the appropriate word(s).
The M1 definition of the money supply includes all of the following EXCEPT
A. savings accounts. B. transaction deposits. C. currency. D. travelers checks.