Refer to the information provided in Table 21.9 below to answer the question(s) that follow. Table 21.9
Refer to Table 21.9. Assume that this economy produces only two goods Good X and Good Y. The value for this economy's nominal GDP in year 1 is
A. $140.
B. $160.
C. $180.
D. $200.
Answer: A
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Prudential regulation ________
A) requires that banks maintain the confidentiality of loan applications B) is administered by a specific insurance company C) is necessitated by the government's safety net for the banking system D) is an effective substitute for prudential supervision
A positively sloped aggregate supply curve reflects
A. The idea that greater production lowers profit margins, which raises quantity demanded. B. The decrease in the real value of money as the price level rises. C. None or the other choices. D. The rising costs associated with increased capacity utilization.
If government levies a tax or fee on hunting licenses and uses the resulting revenue for wildlife stocking programs, this would be an example of:
A. A progressive tax B. A regressive tax C. The ability-to-pay principle of taxation D. The benefits-received principle of taxation
Assume Alan's budget constraint is demonstrated by line A in the graph shown. Which of the following could cause Alan's budget constraint to change to line B?
A. Alan could have experienced a drop in income. B. Alan could have decided he doesn't like going to the movies as much as he used to. C. The price of movie tickets could have increased. D. The price of books could have increased.