The largest employer in the United States is
A. Ford Motor Company.
B. General Motors.
C. The federal government.
D. Walmart.
Answer: D
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If planned autonomous investment is 500, autonomous consumption 300, induced consumption 2500, savings 500, and government spending and taxes zero, then
A) Ep is 3300 and the economy is in equilibrium. B) Ep is 3300 and the economy is out of equilibrium. C) Ep is 3500 and the economy is in equilibrium. D) Ep is 3500 and the economy is out of equilibrium.
First-differenced estimation gives unbiased estimators if the regression model includes a lagged dependent variable.
Answer the following statement true (T) or false (F)
Real GDP is ________ determined in the classical model and ________ determined in the Keynesian model.
A. supply; demand B. demand; supply C. supply; supply D. demand; demand
Economic profit is always
A) greater than accounting profit. B) equal to accounting profit. C) less than accounting profit. D) equally likely to be either greater or less than accounting profit.