The supply of public school places is determined by
(a) individuals' demand for education.
(b) direct and indirect costs of schooling.
(c) political processes, often unrelated to economic criteria.
(d) all of the above.
C
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Firms that survive in the long run are usually those that
A) become as large as possible. B) remain small. C) use more capital rather than more labor. D) earn the largest possible profit.
If planned expenditure is below output, as the economy approaches equilibrium, ________
A) planned expenditure is falling B) output is rising C) saving is rising D) all of the above E) none of the above
You are reading a newspaper article that refers to expansions and contractions in the economy. The references are to changes in
a. wage rates b. inflation rates c. movements in exchange rates d. real GDP e. investment expectations
If the marginal propensity to consume is 0.75 and the equilibrium national income level is $500 billion, then a $25 billion increase in aggregate expenditure will cause the aggregate expenditure curve to shift
a. downward and national income to decrease by $33.3 billion b. upward and national income to increase by $33.3 billion c. downward and national income to increase by $25 billion d. upward and national income to increase by $100 billion e. upward and national income to decrease by $100 billion