GDP divided by the population gives us
A) the price level.
B) the GDP deflator.
C) per capita GDP.
D) real GDP.
E) none of the above.
C
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Refer to the below graphs. (Assume that the pre-migration labor force in Country A is 100 and that it is 150 in country B.) What part of domestic output in country A is the total wage bill before and after the immigration?
A. $500M before and $800M after
B. $500M before and $100M after
C. $400M before and $100M after
D. $400M before and $500M after
If an increase in the minimum wage increases workers' incomes by $75 and reduces employers' incomes by $100, while workers' spend all of their income increase but employers reduce their spending by only seventy-five percent of their income reduction, aggregate spending
A. falls by $25. B. falls by $5. C. falls by $80. D. remains unchanged.
If bankers decide to keep a lower fraction of deposits on reserve, the money supply will
A. decrease. B. increase. C. remain unchanged. D. move more quickly through the economy.
Refer to the graph below. A movement from point C to point D on the Laffer Curve represents:
A. Increased tax rates from T2 to T3 and increased tax revenues from R2 to R3
B. Decreased tax rates from T3 to T2 and increased tax revenues from R2 to R3
C. Decreased tax rates from T3 to T2 and decreased tax revenues from R3 to R2
D. Increased tax rates from T2 to T3 and decreased tax revenues from R3 to R2