Due to a tax rebate before the election, there was an increase in the spending power of individuals. The unpredicted increase in the demand for goods and services caused a _____
a. macroeconomic shortage
b. macroeconomic surplus
c. recession
d. depression
a
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When accounting profits are zero, which of the following is most likely to be true?
A. Economic profits could be zero. B. Economic profits could be positive. C. Economic profits are negative. D. All of these are likely.
International capital flows in an open economy have the effect of
a. reducing the power of monetary policy. b. increasing the power of monetary policy. c. increasing the power of monetary policy in an expansion and reducing it in a contraction. d. reducing the power of monetary policy in an expansion and increasing it in a contraction.
The accompanying table below shows the relationship between the number of times you get your car washed each month and your total monthly benefit from car washes. Each car wash costs $15. Number of Car Washes Per MonthTotal Monthly Benefit from Car Washes0$01$202$363$484$565$60 How many times a month should you get your car washed?
A. 4 B. 1 C. 3 D. 2
An equation that captures how inputs of production are related to output is called a:
A. GDP deflator. B. consumption function. C. production function. D. saving function