Suppose that initially there is no public debt. Using the above table, what is the public debt as a percentage of GDP in Year 3?
A) 1.7 percent
B) 2.0 percent
C) 7.7 percent
D) 5.9 percent
A
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A good is inferior if which of the following is true?
What will be an ideal response?
The price of one bedroom apartments in Cheyenne increased from $55,000 to $65,000 and the quantity of apartment for sale increased from 25 to 30. Using the midpoint method, the price elasticity of supply for apartments in Cheyenne is equal to
A) 0.916. B) 0.75. C) 1.09. D) 2.18. E) 0.08.
Which of the following would happen as the wage rate gradually adjusts following a shock?
a. Nothing will change b. A shift of the production possibilities frontier c. A shift in the short-run aggregate supply curve d. A shift in the aggregate demand curve e. A shift in the long-run aggregate supply curve
The labor supply curve(s) will shift left if there is a decrease in wages.
Select whether the statement is true or false. A. True B. False