How does the multiplier for a change in government spending compare to the multiplier for a change in taxes?
A. It is smaller.
B. It is the same.
C. It is larger.
D. It cannot be calculated.
Answer: C
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If technology improves when a nation is in the intermediate range and only the Aggregate Supply changes, then:
a. Real GDP rises and average price level rises. b. Real GDP rises and average price level falls. c. Real GDP rises and real GDP remains the same. d. Real GDP remains the same and average price level falls. e. Real GDP remains the same and average price level rises.
The term human capital refers to education, training and experience
Indicate whether the statement is true or false
The price elasticity number for necessities will be greater than 1.
Answer the following statement true (T) or false (F)
A bank is insolvent when
A) its liabilities exceed its assets. B) its assets exceed its liabilities. C) its capital exceeds its liabilities. D) its assets increase in value.