Government purchases rise by $100 billion and the MPC equals 0.75. Assuming that idle resources exist at each expenditure round, and the multiplier is operative, the change in Real GDP equals
A) $40 billion.
B) $75 billion.
C) $400 billion.
D) $750 billion.
E) $250 billion.
C
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In 2006, the European Union tariff on imported bananas from Latin America was €176 a ton. Suppose 2
5 million tons of bananas were imported in 2006 but then the tariff decreased to €152 a ton in 2007 and as a result, 3 million tons were imported in 2007. What is the tariff revenue in 2007? A) €445,000,000 B) €528,000,000 C) €440,000,000 D) €375,000,000
As of 2013, the debt of the U.S. government amounted to roughly ________ per person
A) $50,000 B) $8 million C) $500,000 D) $800
Which of these is the BEST example of how the free enterprise system of the United States promotes individual initiative?
A) Men must register for selective service. B) A citizen may be called to serve on a jury. C) The legislative branch levies an income tax. D) Authors can have original works copyrighted.
It costs a television manufacturer $1,000 to produce a plasma television. This manufacturer sells these televisions abroad for $750. This is an example of
A. a negative tariff. B. a trade-related economy of scale. C. dumping. D. an export subsidy.