A study of the impact of various government policies on economic growth would be considered:
A. macroeconomics.
B. marginal economics.
C. government economics.
D. microeconomics.
Answer: A
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If public subsidies for education were eliminated, what would you expect as an outcome in the market for educational services?
A) More students would enroll in school. B) The price students pay to attend school would equal the value of an additional unit of education consumed. C) There would be no correlation between the price students pay and the cost of providing the educational services. D) The quality of education would deteriorate.
At the equilibrium level of real GDP, which of the following is true?
a. Unplanned inventory investment is positive. b. Unplanned inventory investment is negative. c. Aggregate output equals aggregate expenditures. d. Aggregate output plus consumption spending equals aggregate expenditures.
In a fully contestable market, a monopoly firm's profits are
a. limited to a competitive level b. negative c. higher than a competitive market d. set by a regulatory commission e. not affected by the firm's costs
Refer to the given data. At an income level of $400 billion, the average propensity to save in economy (2) is:
Answer the question on the basis of the following consumption schedules. DI signifies disposable income and C represents consumption expenditures. All figures are in billions of dollars.
A. .9125.
B. .0725.
C. .0875.
D. .9305.