According to this Application, growth in China and India caused U.S. exports to increase. Because of this increase in U.S. exports, U.S. income will
A) increase by the same amount. B) increase by a larger amount.
C) decrease by a larger amount. D) decrease by the same amount.
B
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Bob's Baubles, Inc, sells its product for $3 each in a perfectly competitive market. If it increases its workforce from 1,000 to 1,001, its output goes from 615 to 625 per day. Its marginal revenue product for the 1,001st worker is: a. $3
b. $1, 845. c. $30. d. $3,003.
Macroeconomics is the study of aggregate variables such as national production and unemployment
Indicate whether the statement is true or false
The critical elements of nondiscretionary fiscal policy are
A. tax policy and spending policy. B. interest rates and tax rates. C. interest rates and the money supply. D. a progressive income tax and a welfare state.
Refer to the graph shown.
The effect of expansionary fiscal policy on inflation and unemployment, with globalization, is best represented by a movement from:
A. B to D. B. B to A. C. A to B. D. C to B.