Many economist believe that misguided macroeconomic policies did more to create the Debt Crisis of the 1980s than ISI
Indicate whether the statement is true or false
TRUE
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Government policies can affect the supply of a good by: a. affecting the level of output of the good
b. affecting the cost of production of the good. c. affecting the nature of demand in the economy. d. affecting the income of the consumers.
In 2017, Kara sold her used car to Augi's Used Cars, a local dealership, for $2,000. Augi's then serviced and cleaned the car and sold it to Alex for $3,000. How much would these transactions add to GDP in 2017?
A. $1,000. B. $0 C. $3,000. D. $2,000.
Assume a consumption function of the following form: C = 100 + .8Y. If income is equal to $3,000, then consumption is
A) $2,400. B) $2,500. C) $2,900. D) $3,100.
Explanations for the high saving rate in China consistent with the life-cycle reason for saving include:
A. few opportunities to borrow funds for education or paying for a house. B. the desire to leave resources to children who provide support and attention to parents in their old age. C. China's limited social safety net provides most people with little protection against health problems and medical costs. D. low unemployment rates in China.