The following national income data are in billions of dollars
Refer to the above data. National income in this economy is:
A.
$804 billion
B.
$940 billion
C.
$975 billion
D.
$1,019 billion
D.
$1,019 billion
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In the foreign exchange market, a balance of payments surplus is represented by:
A) excess supply of dollars. B) excess demand for dollars. C) equilibrium in the foreign exchange market. D) none of the above.
Suppose Kate's Great Crete (KGC) has annual variable costs of VC = 30Q + 0.0025Q2 and marginal costs of MC = 30 + 0.005Q, where Q is the number of cubic yards of concrete it produces per year. In addition, it has an avoidable fixed cost of $50,000 per year. KGC's demand function is Qd = 20,000 - 400P. What is the profit maximizing sales price?
A. $47.70 B. $30.00 C. $45.00 D. $50.00
Balancing the budget over the business cycle involves running _________ during recession years and _____ during economic booms.
Fill in the blank(s) with the appropriate word(s).
Imports are products produced in the home country and sold in another country.
Answer the following statement true (T) or false (F)