Division of iron ore between the production of bridge girders and tanker drums is an example of
A. a distribution problem.
B. production planning.
C. input-output analysis.
D. both output selection and distribution.
Answer: B
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What will be the effects of a decrease in government spending?
a. an increase in equilibrium GDP, a decrease in money demand, a decrease in the interest rate, and an increase in investment spending b. a decrease in equilibrium GDP, a decrease in money demand, an increase in the interest rate, and a decrease in investment spending c. an increase in equilibrium GDP, an increase in money demand, an increase in the interest rate, and an increase in investment spending d. a decrease in equilibrium GDP, a decrease in money demand, a decrease in the interest rate, and an increase in investment spending e. an increase in equilibrium GDP, an increase in money demand, an increase in the interest rate, and a decrease in investment spending
Which of the following by itself is consistent with the directions that the price level and real GDP changed at the onset of the Great Depression?
a. aggregate demand shifted right b. aggregate demand shifted left c. aggregate supply shifted right d. aggregate supply shifted left
The marginal factor cost curve for a monopsony:
A. is the labor supply curve. B. lies below the labor supply curve. C. lies above the labor supply curve. D. is unrelated to the labor supply curve.
If the marginal propensity to consume (MPC) is 0.95, then the multiplier for a change in autonomous spending will be
A. 0.05. B. 20. C. 95. D. 100.