Which of the following is the best example of a government expenditure for goods or services?
A. salaries of Supreme Court justices
B. social security pensions paid to the elderly
C. welfare payments
D. unemployment compensation
A. salaries of Supreme Court justices
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Points to the right of the IS schedule indicate that
a. investment plus government spending will exceed saving plus taxes. b. the amount of money supplied exceeds the amount of money demanded. c. saving plus taxes will exceed investment plus government spending. d. the amount of money demanded exceeds the amount of money supplied.
A cut in marginal tax rates would: a. increase the price level and real GDP in the short run if it has no effect on short-run aggregate supply
b. increase the price level and real GDP in the short run, even if possible aggregate supply effects are included. c. increase real GDP in the short run, but there is an indeterminate effect on the price level if there is no supply-side effect on aggregate supply. d. increase real GDP in the short run, but there is an indeterminate effect on the price level if supply-side effects on aggregate supply are included.
With real-world examples, explain the various factors that can cause a shift in the supply curve of a commodity
What will be an ideal response?
Which of the following is an example of a positive statement?
A) Since this good is bad for you, you should not consume it. B) If this good is bad for you, you should not consume it. C) If you consume this good, you will get sick. D) None of the above.