Refer to the information provided in Figure 23.12 below to answer the question(s) that follow.
Figure 23.12Refer to Figure 23.12. Suppose AE1, AE2 and AE3 are parallel. What is the value of Point A?
A. $450 million
B. $510 million
C. $540 million
D. cannot be determined from the given information
Answer: A
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Suppose the U.S. economy is producing at the natural rate of output. An appreciation of the U.S. dollar will cause ________ in real GDP in the short run and ________ in inflation in the long run, everything else held constant
(Assume the appreciation causes no effects in the supply side of the economy.) A) an increase; an increase B) a decrease; a decrease C) no change; an increase D) no change; a decrease
A "company town" is one in which:
A. a single company directly regulates and monitors all town activity. B. a single company employs the great majority of people in a town and owns most structures in the town. C. the company directs most town business by assisting local government. D. all employees of a company live within its confines.
Which of the following will occur if aggregate demand is below full-employment GDP?
A. Recession B. Excessive aggregate demand C. Inflation D. A stable economy
Which of the following statements regarding the relative increase in supply of high-skill labor in the United States since 1960 as measured by education level is not true?
A. The supply of highly skilled women to the workforce has increased dramatically since 1960. B. The percent of workers with a college degree has increased dramatically since 1960. C. The percent of workers with an advanced degree has increased dramatically since 1960. D. The percent of workers without a high school degree has fallen dramatically since 1960. E. All of the above statements are true.