In comparison to the oversimplified formula for the multiplier, the real-world multiplier is
a. lower.
b. higher.
c. almost equal to it.
d. higher if taxes are included.
a
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The accounting system requires that the current account and the financial account sum to ________
A) 0 B) 1 C) 100 D) 10
Temporary supply shocks change which of the following? a. SRAS
b. LRAS. c. AD. d. Both a. and b.
If the wages of a CPA decrease, (i) her opportunity cost of leisure increases. (ii) her opportunity cost of leisure decreases. (iii) her hours of labor supply may increase. (iv) her hours of labor supply may decrease
a. (i) and (iii) only b. (ii) and (iv) only c. (i), (iii), and (iv) only d. (ii), (iii), and (iv) only
Recall the Application about the British experience with private water companies in the nineteenth century to answer the following question(s).Recall the Application. The British experience with water privatization showed that:
A. a single firm providing water will be profitable, but two firms will not. B. two or more firms providing water will be profitable, but a single firm will not. C. it does not matter how many firms provide water, as none will be profitable. D. it does not matter how many firms provide water, as all will be profitable.