Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential
B. higher; higher
C. lower; higher
D. higher; potential
Answer: D
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When Ford increases the production of cars in Romania, which of the following occurs?
A) GDP in the United States rises. B) GNP in the United States rises. C) GNP in Romania rises. D) Both A and C occur.
Suppose Gizmo Inc is willing to sell one gizmo for $10, a second gizmo for $12, a third for $14, and a fourth for $20, and the market price is $20 . What is Gizmo Inc's producer surplus?
a. $56 b. $24 c. $20 d. $10
In a given year, U.S. nominal GDP was $527 billion and the GDP chain price index for that year is 23.3 . Real GDP in 1996 dollars is:
a. $1,228 billion. b. $2,262 billion. c. $3,000 billion. d. $3,262 billion.
Which of the following is a positive statement? a. Increased money supply growth will lead to a higher rate of inflation
b. There are more millionaires in Uganda than in the United States. c. People watch more TV during finals week than during the rest of the term. d. All of the above are positive statements.