Refer to the tables below. If Germany and the United States engage in trade, the mutually-beneficial terms of trade will be between:
Autos and chemicals are in million of units in the following production possibilities tables:
A. 3 and 4 units of autos for 1 unit of chemicals
B. 2 and 4 units of autos for 1 unit of chemicals
C. 2 and 4 units of chemicals for 1 unit of autos
D. 0.33 and 0.5 units of autos for 1 unit of chemicals
C. 2 and 4 units of chemicals for 1 unit of autos
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The threshold income level originally used to determine official poverty statistics was based on
A) an income three times the amount of money needed to purchase a nutritionally adequate diet. B) standards provided by the United Nations based on studies done in poor countries around the world. C) the highest income of the lowest one-fifth of families in the country. D) a per capita income of $1,000 in 1958 prices.
A simultaneous increase in both unemployment and inflation is most likely to be the result of a(n):
a. increase in long-run aggregate supply. b. increase in short-run aggregate supply. c. decrease in the aggregate demand. d. simultaneous outward shift of the aggregate demand and supply curves. e. decrease in the short-run aggregate supply.
Exhibit 8-8 Consumption function
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In Exhibit 8-8, which of the following could cause the movement from C1 to C2?
A. a decrease in real asset holdings B. lower interest rates C. expectations that the economy will grow D. expectations of lower future prices
Automatic stabilizers "lean against the prevailing wind" of the business cycle because:
A. wages are controlled by the minimum wage law. B. federal expenditures and tax revenues change as the level of real GDP changes. C. the spending and tax multipliers are constant. D. they include the power of special interests.