For the average person, insurance is
A. not a gamble.
B. a useless option.
C. a fair gamble.
D. an unfair gamble.
Answer: D
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Starting from long-run equilibrium, an increase in autonomous consumption results in ________ output in the short run and ________ output in the long run.
A. higher; higher B. higher; potential C. lower; higher D. lower; potential
Which of the following is NOT included in the income approach to calculating GDP?
A) wages B) profits C) interest D) net exports of goods and services E) rent
The above table gives techniques Jitters Coffee Company can use to package 5,000 pounds of coffee. Which technique(s) is (are) technologically inefficient?
A) A B) C C) B and C D) B, C, and D
Refer to Figure 16-1. Suppose the economy is in short-run equilibrium above potential GDP and wages and prices are rising
If contractionary policy is used to move the economy back to long run equilibrium, this would be depicted as a movement from ________ using the static AD-AS model in the figure above. A) D to C B) A to E C) C to B D) B to A E) E to A