Refer to the information provided in Table 24.3 below to answer the question(s) that follow.
Table 24.3
Refer to Table 24.3. At the equilibrium level of income, leakages equal ________ billion.
A. $0
B. $200
C. $400
D. $600
Answer: C
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The lower the exchange rate today, ceteris paribus, the
A) greater is the expected profit from buying U.S. dollars today and holding them. B) smaller is the expected profit from buying U.S. dollars today and holding them. C) greater is the expected profit from buying foreign currency today and holding it. D) smaller the quantity of U.S. dollars demanded in the foreign exchange market today.
Assume that an insurance company sets a single price for insurance equal to the total medical bills paid by the insurance company divided by the number of its customers. If it pays medical bills of $5,000 for half of its customers and $9,000 for the other half of its customers, the price of insurance will be:
A. $5,000. B. $6,000. C. $7,000. D. $9,000.
Which of the following statements is NOT true about economic growth?
A. Growth generally means that overall the members of the nation are better off materially. B. When growth occurs the production possibilities curve shifts outward. C. Growth represents an increase in a nation's productive capacity. D. Growth is measured as the overall level of real GDP.
The purpose of social regulation is
A. to control the price that regulated enterprises are allowed to charge. B. to force a firm to produce at the point where marginal cost equals marginal revenue. C. to control the quality of service provided by a monopolist. D. to focus on the impact of production on the environment and society, the working conditions under which goods and services are produced, and sometimes the physical attributes of goods.