The increase in the trade deficit in the 1980's reflected a decrease in national saving that is associated with an increase in the government budget deficit
a. True
b. False
Indicate whether the statement is true or false
True
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When the price of NBA tickets is $25 each, 30,000 tickets are sold. After the price rises to $30 each, 20,000 tickets are sold. At the original price, the demand for NBA ticket is:
A. inelastic. B. elastic. C. perfectly elastic. D. unit elastic.
Given the following hypothetical data where C = $3,000; I = $1,200; G = $2,000; X ? M = ?$500; depreciation = $200; transfer payments = $800, net domestic product is _____
a. $5,500 b. $5,700 c. $6,200 d. $6,400 e. $6,900
If a new method is found for obtaining oil from what was once considered exhausted oil fields, then its effect on the economy now will be that
a. the AS curve shifts to the left b. an upward movement along the AD curve will occur c. the AD curve shifts to the left d. the AD curve shifts to the right e. the AS curve shifts to the right
A inflationary gap occurs in the economy when
A) Aggregate demand is perfectly elastic. B) Aggregate demand is greater than full employment output. C) Aggregate demand is greater than potential GDP. D) None of the above.