If the national incomes of our trading partners increase, then our:
A. Aggregate demand decreases because C decreases
B. Aggregate demand increases because C increases
C. Aggregate demand decreases because net exports decrease
D. Aggregate demand increases because net exports increase
D. Aggregate demand increases because net exports increase
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Once a government program is put into place, the employees of the bureau put in charge of administering the program _____
a. become profit maximizers b. begin working in the public interest c. start rent seeking d. become an interest group
When you purchase a run-down 1965 Ford Mustang to restore and resell, the purchase of the vehicle and all restoration expenditures are included in current GDP
a. True b. False Indicate whether the statement is true or false
Why is the demand for one good elastic, but for another inelastic?
What will be an ideal response?
A characteristic of a good model is that
A. it predicts perfectly. B. it applies to all situations. C. it is useful for making irrefutable predictions. D. its predictions can be tested using real-world data.