A stoppage on an automobile production line caused by a late delivery can cost up to __________________.
a. $1,000-$10,000 per minute
b. $10,000-$20,000 per minute
c. $10,000-$20,000 per minute
d. $10,000-$50,000 per minute
e. $10,000-$100,000 per minute
e. $10,000-$100,000 per minute
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The federal deficit ________ in 2006 and 2007, and ________ in 2008
A) increased, increased further B) increased; decreased C) decreased; increased D) decreased; decreased further
Which of the following is directly accounted for in the calculation of GDP?
A) the value of one hour of leisure as measured by the hourly wage one would otherwise earn by working B) the value of repairing your own kitchen sink as measured by the average rates charged by local plumbers C) cash earnings from an illegal poker game D) improvements in quality of life from the reduction of pollution E) None of the above items is accounted for in GDP.
Which of the following best describes equilibrium?
A) A situation where the government intervenes to allocate resources B) A situation where only one individual or firm takes an optimum decision C) A situation where no economic agent would benefit by changing his or her behavior D) A situation where economic agents do not optimize as they do not have perfect information
With normally-sloped IS and LM curves, an increase in government spending ________ the interest rate, which ________ autonomous planned expenditure, resulting in a final increase in income ________ than what the government spending increase would
have produced in the Chapter 3 model. A) lowers, raises, greater B) lowers, lowers, greater C) raises, lowers, less D) raises, raises, less E) raises, raises, greater