Refer to the table. If the amounts of GDP supplied at the price levels shown (in descending order) are $45, $43, $40, $37, and $31, the equilibrium level of real GDP will be:
Answer the question on the basis of the following table for a particular country in which C is
consumption expenditures, I g is gross investment expenditures, G is government expenditures,
X is exports, and M is imports. All figures are in billions of dollars. Each question is
independent of other question using the same table, unless otherwise stated.
A. $37 billion.
B. $35 billion.
C. $26 billion.
D. $43 billion.
A. $37 billion.
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The Federal Reserve does not target both the money supply and an interest rate because
A) it would be too confusing to Wall Street and would disrupt the financial markets. B) the Fed cannot achieve a target for both the money supply and an interest rate at the same time. C) it would be illegal according to the Federal Reserve Act. D) it would be too easy for Wall Street to determine what policy the Fed is following and this would destabilize the economy.
If nominal GDP is $8 trillion, and the money supply is $2 trillion, velocity is
A) 0.25. B) 4. C) 8. D) 16.
Explain what causes the three types of unemployment. What advice for finding a job would be appropriate for someone in each type of unemployment?
What will be an ideal response?
The breakeven price of a perfectly competitive firm is obtained at the point of intersection between the marginal revenue and marginal cost curves
Indicate whether the statement is true or false