Refer to the table shown. In trillions of dollarsConsumption4.2Investment1.3Government Purchases1.5Depreciation0.4GDP6.6What are the economy's net exports?
A. $0.8 trillion
B. There is not sufficient information to compute net exports.
C. -$0.4 trillion
D. $0.4 trillion
Answer: C
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According to new growth theory, technological advances can be promoted
A) from within the economy. B) if only the right fiscal and monetary policies are in place. C) in a few rare cases. D) through industrial policy. E) none of the above
In the above figure, suppose the economy is in short-run equilibrium at point D. Which of the following is the best policy option for the Fed?
A. open market purchase of government securities B. Increase the required reserve ratio. C. Increase taxes. D. Increase government spending.
A minimum wage law that sets the minimum below the equilibrium wage rate will
a. create unemployment b. have no effect on employment c. increase employment d. raise the equilibrium wage rate e. lower the equilibrium wage rate
Nominal GDP was $12.1 trillion and real GDP is $11 trillion. The GDP price index is ________
A) 90.1 B) 121.0 C) 1.10 D) 91.0 E) 110.0