Refer to the above table. If a government sector is introduced and a lump-sum tax of $30 billion is imposed at all levels of GDP, then the consumption column in the table becomes:
The data below is the consumption schedule in an economy. All figures are in billions of dollars.
A. $420, 460, 500, 540, 580
B. $426, 466, 506, 546, 586
C. $430, 470, 510, 550, 590
D. $432, 472, 512, 552, 592
B. $426, 466, 506, 546, 586
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If the annual inflation rate in an economy is "i", then $1 borrowed at the beginning of a year will have the same purchasing power as ________ dollars at the end of the year
A) (1 - i) B) (1/i) C) (1 + i) D) i
"Crowding out" investment in supply side economics refers to a situation in which groups of investors compete with each other, thereby driving up interest rates
Indicate whether the statement is true or false
Oligopolists almost always cooperate in making price and output decisions
a. True b. False Indicate whether the statement is true or false
Depletable resource prices change over time depending on
A. how the technology of resource extraction changes. B. the prices of publicly traded stock. C. the number of countries that have nationalized production. D. the prices of substitutable renewable resources.