An industry in which an increase in industry output is accompanied by an increase in long-run per-unit costs is a(n)
A) increasing-cost industry.
B) constant-cost industry.
C) break-even cost industry.
D) decreasing-cost industry.
A
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If the government reduces expenditure on goods and services by $30 billion, then aggregate demand
A) increases by $30 billion and real GDP increases. B) decreases by more than $30 billion and real GDP decreases. C) increases by more than $30 billion and real GDP increases. D) decreases by $30 billion and real GDP decreases. E) increases and potential GDP increases.
The roots of the European Union are in agreements within the coal and steel industries
Indicate whether the statement is true or false
The HPAE focused their education spending on the university level to better develop high technology workers
Indicate whether the statement is true or false
Keynes reasoned that consumer expenditure is most closely related to
A) the level of interest rates. B) the price level. C) disposable income. D) the marginal tax rate.