Refer to the above table. Given the level of investment at $34 billion, zero net exports, and a lump-sum tax of $30 billion, the addition of government expenditures of $20 billion at each level of GDP will result in an equilibrium GDP of:
The data below is the consumption schedule in an economy. All figures are in billions of dollars.
A. $490 billion
B. $540 billion
C. $590 billion
D. $640 billion
D. $640 billion
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When a game has more than one Nash equilibrium,
a. at least one of them will be Pareto optimal. b. they will all tend to be unstable. c. they must provide the same total payoff to the players. d. it is difficult to predict which of them will actually occur.
The perfectly competitive firm's short-run shutdown rule is to shut down immediately if
a. TR < TC. b. TR < SRFC. c. TR < SRVC. d. TR < MC > Q.
The optimal time for the implementation of restrictive fiscal policy would be
a. before inflation accelerated. b. after inflation accelerated. c. during a recession. d. after the price level had risen significantly.
At the point where C line crosses the 45-degree line, saving is
A. positive. B. negative. C. zero. D. there is not enough information to know this.