Federal Spending in 2016 was
A. $4 billion.
B. $400 trillion.
C. $40 trillion.
D. $4 trillion.
Answer: D
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If the demand curve for bottled water shifts leftward and the supply curve of bottled water shifts leftward, the equilibrium
A) price of bottled water definitely increases. B) price of bottled water definitely decreases. C) quantity of bottled water definitely increases. D) quantity of bottled water definitely decreases.
The per-person production function in Chapter 10 assumes that a one percent rise in (K/N) causes a ________ rise in (Y/N), and so it is diagrammed as a ________ line
A) less-than-one-percent, downward-curling B) less-than-one-percent, upward-curling C) one percent, upward-curling D) one percent, downward-curling E) more-than-one-percent, straight
In analyzing the operation of a firm, an economist assumes the firm wants to
A. maximize total profits. B. maximize total revenue. C. maximize total production. D. maximize total sales.
Which of the following macroeconomic variables is procyclical and coincident with the business cycle?
A. Unemployment B. Residential investment C. Nominal interest rates D. Industrial production