To have more consumer goods in the future, we must
A. get government involved in the production process.
B. stop producing all goods today.
C. lower current income.
D. produce more capital goods today.
Answer: D
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The Keynesian model of macro equilibrium provided an explanation for the:
a. high rates of both unemployment and inflation experienced during the 2110s. b. prolonged high rates of unemployment experienced during the 1930s. c. low interest rates of the 1950s and 1960s. d. budget surpluses and rapid growth of the U.S. economy during the 1990s.
If both the price level and nominal incomes change by the same percentage:
A. real GDP will remain constant. B. the aggregate supply curve will be upward-sloping. C. profit margins will change in real terms. D. the long-run aggregate supply curve will be horizontal.
Suppose that you took out a $1000 loan in January and had to pay $75 in annual interest. During the year, inflation was 6 percent. Which of the following statements is CORRECT?
What will be an ideal response?
Why does a sports car cost more than a truck?
A. because truck manufacturers know that their customers have relatively low incomes B. because sports car manufacturers are greedier than truck manufacturers C. because more scarce resources are required to produce a sports car than to produce a truck D. because sports cars are priced higher in order to make them attractive as status symbols