Common property resources tend to be
A) overused.
B) underused.
C) not used at all.
D) efficiently used.
E) used by the government only.
A
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When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline
If the level of real GDP is $14 trillion while aggregate planned expenditure is $15 trillion, then
A) inventories rise more than planned, leading firms to increase production. B) real GDP increases and planned expenditure decreases reaching equilibrium in the middle. C) aggregate planned expenditure decreases to reach the equilibrium of $14 trillion. D) inventories fall more than planned, leading firms to increase production. E) inventories rise more than planned, leading firms to cut production.
In the above table, the working age population is
A) 225 million. B) 100 million. C) 140 million. D) 155 million.
The lifetime income distribution of income is a ________ accurate indicator of the degree of economic inequality than the distribution of ________
A) less; of annual income B) more; of annual income C) less; of wealth D) less; annual Lorenz curves