Per-capita real economic growth refers to an increase from one period to the next in
A) per-capita GDP.
B) GDP.
C) Real GDP.
D) per-capita Real GDP.
E) none of the above
D
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The quantity of U.S. exports is determined by
A) U.S. consumption expenditure. B) political factors. C) aggregate incomes in the rest of the world. D) U.S. aggregate expenditure. E) U.S. GDP.
In the above figure, CBL is the cost of breaking the law. If it is illegal to sell, but not illegal to buy, then the price per unit will be
A) $500. B) $400. C) $300. D) $200.
Use the above table. The data shows that the firm
A) is hiring in a perfectly competitive labor market. B) is selling its output in a perfectly competitive market. C) is a monopsonist. D) is selling its output in an imperfectly competitive market.
As the marginal propensity to consume (MPC) decreases, the spending multiplier:
a. increases. b. decreases. c. remains constant. d. becomes undefinable.