What is the output effect?
What will be an ideal response?
The change in the quantity of labor demanded resulting from a change in the amount of output produced.
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Refer to the scenario above. If you lend $30,000 to your friend for 30 years, you will receive ________ when he repays the amount after 30 years
A) $552,604.62 B) $523,482.07 C) $1,521,725.58 D) $3,620,025.01
A Groves mechanism is a procedure for setting the level of a public good that:
A. induces everyone to report their preferences correctly. B. induces everyone to overstate the benefit they receive from a public good. C. induces everyone to understate the benefit they receive from a public good. D. only works if the public good in question is free of externalities.
The two major trading partners of the United States are
a. Germany and Mexico b. Mexico and Canada c. Japan and Canada d. Canada and Brazil e. Brazil and Japan
The structural deficit or surplus
a. shows the government where to make cuts in expenditures to follow the balanced budget requirement. b. reveals the complicated structure underlying government spending and tax policy. c. is the hypothetical deficit or surplus under current fiscal policies if the economy were operating near full employment. d. includes all government budgets-federal, state, and local.