A rule of thumb is that a 1% increase in output leads automatically to a reduction in the deficit of what percentage of GDP?
A) 0.5%
B) 1%
C) 1.5%
D) 2%
A
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Which of the following will cause the LM curve to shift to the left?
A) A decrease in investment B) A decrease in money demand C) An increase in velocity D) A decrease in the money supply
A useful economic model
A) utilizes only the two most important factors to analyze the problem under consideration. B) generates statements that are incapable of refutation. C) represents every detail of the real world. D) yields usable predictions and implications for the real world.
A market is a group of buyers and sellers of a particular good or service
a. True b. False Indicate whether the statement is true or false
The poverty rate for blacks is _____________ the poverty rate for non-Hispanic whites.
A. almost three times B. about 50% more than C. slightly higher than D. a little lower than