Refer to the diagram for a private closed economy. The equilibrium level of GDP is:
A. $400.
B. $300.
C. $200.
D. $100.
B. $300.
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Which of the following groups of people will NOT be considered as employed?
A) Government representatives earning a fixed salary every month B) Housewives raising kids at home C) Paid workers in the agricultural sector of a country D) Teachers in public schools
The figure above shows Diane's demand curve for soda. The price of a soda is $1.00. Diane's consumer surplus from all 15 sodas is
A) $15.00. B) $22.50. C) $11.25. D) $8.00. E) $1.50.
A tax credit for purchases of capital goods causes the interest rate to increase and the exchange rate to appreciate
a. True b. False Indicate whether the statement is true or false
In Econland exports equal 15 percent of total output, while imports equal 20 percent of total output. Econland has a:
A. trade surplus. B. trade deficit. C. budget surplus. D. budget deficit.