C = $40 million + 0.6(1 - 0.2)Y I = $35 million G = $31 million NX = -$6 million Based on the above data, the equilibrium level of GDP is
A) $113.6 million.
B) $192.3 million.
C) $208.3 million.
D) $833.3 million.
B
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Wendy works as a teller at a bank for a fixed salary of $1,800 per month. She is offered a job as a salesperson at which there is a 40 percent chance that she will make $5,000 a month and a 60 percent chance that she will make only $1,000 a month
The figure shows Wendy's utility of wealth curve: a) What is Wendy's expected income from the offered job? b) What is Wendy's expected utility from the offered job? c) Will Wendy accept the offer? Why or why not? d) What is the minimum fixed salary for which Wendy will continue to work for the bank and not take the sales job?
An explanation for the productivity slowdown from 1974 through 1995 is
A) measurement problems. B) an increase in labor quality. C) creative destruction. D) a decline in oil prices.
Other things being equal, an increase in the price of a good leads to a decrease in the amount people purchase. This is known as
A) the law of demand. B) the law of supply. C) ceteris paribus. D) equilibrium.
Other things being equal, a fall in the price of orange juice will decrease the quantity supplied
a. True b. False Indicate whether the statement is true or false