Keynesian economists believe that the government should do what during a downturn in the economy?
a. Increase government spending and decrease taxes
b. Increase government spending and increase taxes
c. Decrease government spending and decrease taxes
d. Decrease government spending and increase taxes
a. Increase government spending and decrease taxes
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Use the above table. Assuming constant opportunity costs, the opportunity cost of producing donuts in country Alpha is ________, and the opportunity cost of producing donuts in country Beta is ________
A) 1 donut; 0.17 donut B) 1 donut; 6 donuts C) 10 donuts; 12 pizzas D) 0.2 pizza; 1.67 donuts
If in some year real GDP was $25 billion and the GDP deflator was 68, what was nominal GDP?
a. $2.72 billion. b. $17 billion. c. $36.8 billion. d. $43 billion.
According to the Phillips curve, which fiscal policies can be used to reduce unemployment in the short run?
Use the following graph of total revenues to answer the question below.
Demand is elastic between points
A. A and B. B. F and G. C. D and E. D. G and H.