Which of the following would not be included in the calculation of this year's GDP?
A) a headlight bulb purchased at Joe's Auto Supply by Olivia to replace a burnt out bulb in her car
B) a headlight bulb purchased by Ford Motor Co. from a supplier
C) a headlight bulb produced but not sold this year and thus ending up as inventory
D) none of the above, i.e., all would be included
B
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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
Steve Forbes has run for president twice on a program of a "flat tax." Under a flat tax, there would be only one tax bracket for the federal income tax and most tax deductions and tax exemptions would be eliminated
Suppose that Forbes wins the 2016 presidential election. What would be the likely impact on the market for municipal bonds?
Which of the following would most likely cause a firm's cost curve to shift downward?
a. an increase in resource prices b. an increase in government regulations c. a decrease in taxes d. an increase in demand for the firm's product
Empirical evidence indicates that lower real interest rates lead to ________ in savings.
A. modest increases B. modest decreases C. no change in D. substantial increases