In a certain economy, the components of planned spending are given by: C = 500 + 0.8(Y - T) - 300rI P = 200 - 400rG = 200NX = 10T = 150 Given the information about the economy above, which expression gives induced expenditures?
A. 0.8Y
B. [910 ? 700r ]
C. 0.2Y
D. [790 ? 700r ]
Answer: A
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If the price level rises from 100 to 110 then the inflation rate is
A) 100 percent. B) 1.0 percent. C) 10.0 percent. D) 110 percent. E) None of the above answers is correct.
Which of the following antitrust laws broadened the list of illegal price discrimination practices and is often called the "Chain Store Act"?
a. The Clayton Act. b. The Federal Trade Commission Act. c. The Robinson-Patman Act. d. The Celler-Kefauver Act.
All human wants cannot be satisfied because of the problem of scarcity
a. True b. False Indicate whether the statement is true or false
Figure 3.2 shows the total cost and total benefit curves for a professional guitarist. If the guitarist is currently practicing 1 hour per day, then:
A. she should practice more because net benefits would increase. B. she should practice less because net benefits would decrease. C. she should practice less because net benefits would increase. D. she should practice more because net benefits would decrease.