If a country has attracted a relatively large number of foreign workers and a large amount of foreign investment,
a. national income will generally exceed gross national product.
b. gross national product will generally exceed gross domestic product.
c. net domestic product will generally exceed gross domestic product.
d. gross domestic product will generally exceed gross national product.
D
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When budget deficits during recessions are covered by budget surpluses during expansions, it is called: a. an annually balanced budget. b. a cyclically balanced budget. c. crowding out
d. crowding in. e. a biennial balanced budget.
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD3 the result in the long run would be:
A. P2 and Y2. B. P1 and Y2. C. P4 and Y2. D. P1 and Y1.
The price charged by a profit-maximizing monopolist occurs
A. At a price on the long-run average total cost curve below the point where MR = MC. B. At the minimum of the long-run average total cost curve. C. Where P = MR = MC. D. At a price on the demand curve above the intersection where MR = MC.
Government policymakers would like to have high ________ and low ________.
A. output growth; unemployment and inflation B. output growth and inflation; unemployment C. inflation; unemployment and output growth D. unemployment and output growth; inflation