In a small closed economy investment is $50 billion and private saving is $45 billion. What are public saving and national saving?
a. $5 billion and $45 billion
b. -$5 billion and $45 billion
c. $5 billion and $50 billion
d. -$5 billion and $50 billion
c
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Purchasing a season pass to the local symphony
A) is an example of first degree price discrimination. B) is an example of second degree price discrimination. C) is an example of third degree price discrimination. D) All of the above.
The marginal product is defined as:
a. The ratio of total output to the amount of the variable input used in producing the output b. The incremental change in total output that can be produced by the use of one more unit of the variable input in the production process c. The percentage change in output resulting from a given percentage change in the amount d. The amount of fixed cost involved. e. None of the above
During the 2007-2009 financial crisis, the Federal Reserve took some unusual steps in its conduct of monetary policy. Which of the following was not one of them? a. It invested in AIG
b. It invested more than $1 trillion in mortgage-backed securities. c. It worked with the U.S. Treasury and with other regulators to stabilize banks and thaw frozen credit lines. d. It worked with the U.S. Treasury and other regulators to help conduct a stress test of the 19 largest banks. e. It bailed out General Motors.
Which of the following will lead to an increase in aggregate demand?
A. An increase in the price level. B. An appreciation in the value of the U.S. dollar. C. An increase in national incomes abroad. D. A decrease in the price level.