Refer to the above figure. If real Gross Domestic Product (GDP) is $2 trillion, then
A) the level of total planned expenditures is less than real GDP.
B) the level of total planned expenditures is greater than real GDP.
C) the level of total planned expenditures equals real GDP.
D) the level of total planned expenditures equals zero.
B
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Use the figure below to answer the following question.
If a price ceiling in this market is set at P1, producer surplus is represented as which area on the graph?
A. b. B. c. C. c + b + d. D. b + c.
A shift of the demand curve for a good occurs whenever new technologies make inputs used in producing that good available at lower prices.
Answer the following statement true (T) or false (F)
Sovereign debt crises are triggered ________
A) by innovations in subprime real estate markets B) when a country's debt-to-GDP ratio becomes excessively high C) when austerity measures cause a sharp fall in the supply of government bonds D) by the adoption of a common currency, such as the euro
The clearest sign of inflation would be a(n)
a. increase in the price level. b. increase in the quantity of total final output. c. decrease in the quantity of total final output. d. simultaneous increase in both output and prices.