Consumption spending is $5 million, planned investment spending is $8 million, unplanned investment spending is $2 million, government purchases are $10 million, and net export spending is $2 million. What is GDP?
What will be an ideal response?
$27 million
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If low-quality workers are unable to obtain a college degree, then a separating equilibrium can occur if
A) the cost of obtaining a degree is less than the wage premium paid to those who have obtained the degree. B) the cost of obtaining a degree is greater than the wage premium paid to those who have obtained the degree. C) the cost of obtaining a degree is zero. D) the wage premium paid to those who have obtained the degree is positive.
Government stabilization policy would be unnecessary if the economy automatically gravitated toward
a. full inflation. b. full employment. c. full recession. d. an inflationary gap.
An exchange rate crisis is when:
a. the currency is stable. b. the value of a currency declines dramatically. c. the value of a currency increases dramatically. d. a country fixes the price of its currency.
When we demand Mexican pesos, the price we pay for those pesos is the:
A. exchange rate. B. savings rate. C. interest rate. D. prime rate.