Which of the following increases as a result of an increase in real GDP?
i. autonomous expenditure
ii. induced expenditure
iii. potential GDP
A) i only B) ii only C) iii only D) ii and iii E) i, ii, and iii
B
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In the figure above, the length of the double sided arrow is the
A) consumer surplus. B) deadweight loss. C) producer surplus. D) economic loss per unit. E) economic profit.
Refer to Figure 11-1. Suppose the per-worker production function in the figure above represents the production function for the U.S. economy
If the United States decided to double its support of university research, this would cause a movement from A) B to A. B) B to C. C) A to B. D) D to C.
Recent rapid economic growth in India and China has reduced the amount of "brain drain" in those countries
Indicate whether the statement is true or false
The Federal Reserve was originally created to
a. stabilize exchange rates b. keep the unemployment rate at 0% c. create jobs d. issue bonds e. create and regulate the U.S. money supply