The age distribution within the population of a country can have a considerable impact on the economy and the _____________ of living.
a. standard
b. duration
c. cost
d. modality
a. standard
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Suppose there is a $200 billion increase in government spending. We know that this increase in government spending will cause which of the following to occur?
A) equilibrium real GDP will increase by exactly $200 billion. B) an increase in equilibrium real GDP and an increase in the multiplier. C) an increase in equilibrium real GDP and a reduction in the multiplier. D) an increase in equilibrium real GDP and no change in the multiplier.
Consider a point on a market demand curve. The point represents
A) a single price and the quantity demanded by an individual buyer. B) a single price and the sum of the quantities demanded by all buyers. C) various prices and various quantities demanded. D) a single price and the quantity demanded by an individual buyer at that price and all other prices. E) a and c
Suppose an American worker can make 100 chairs or catch 1,000 fish per day. A Chilean worker, on the other hand, can produce 40 chairs or catch 400 fish per day. Which of the following statements is true?
A. Chile has the comparative advantage in chair production. B. Both the United States and Chile have a comparative advantage in chair production. C. Neither the United States nor Chile has a comparative advantage in chair production. D. The United States has the comparative advantage in chair production.
Suppose $100 is deposited in a bank account paying 5% compounded annually. If the interest earned is X after 5 years, then the interest earned will be 2X after 10 years
Indicate whether the statement is true or false