All of the following are consequences of a government's having to deal with a "debt crisis", except:
A. Very restricted ability to borrow money
B. Being forced to drastically raise taxes
C. Being forced to make drastic cuts in spending
D. Being forced to make huge increases in government spending
B. Being forced to drastically raise taxes
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In calculating GDP, governmental transfer payments, such as Social Security or unemployment compensation, are ________.
A. counted as investment spending. B. counted as consumption spending. C. counted as government spending. D. not counted.
C = 3,600 + (mpc)y
I = 1,200 G = 1,400 NX = -200 If the equilibrium level of GDP is $30,000, using the equations for C, I, G, and NX shown above, find the value of the marginal propensity to consume. What will be an ideal response?
Refer to Table 2.4. The GDP deflator for 2012 is
A) 60.9. B) 94.3. C) 106.1. D) 157.4.
The marginal revenue product
A) represents the incremental contribution to the firm's total revenues obtained from an increase in a variable input. B) always increases when there is an increase in a variable input. C) gives the increase in cost when there is an increase in a variable input. D) gives the change in total product when an additional unit of a good is hired.