Refer to the information provided in Table 23.7 below to answer the question(s) that follow. Table 23.7
Refer to Table 23.7. The equilibrium level of aggregate output equals
A. $400 billion.
B. $600 billion.
C. $800 billion.
D. $1,000 billion.
Answer: D
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Net interest payments by the government are usually
A) small and sometimes negative for both the federal, and state and local governments. B) small and sometimes negative for the federal government, but large and positive for state and local governments. C) small and sometimes negative for state and local governments, but large and positive for the federal government. D) large and positive for both the federal, and state and local governments.
Some economists argue that the official poverty figures overstate poverty in this country. Why?
What will be an ideal response?
Which of the following statements is most consistent with the rule of rational choice?
a. "The Environmental Protection Agency should strive to eliminate virtually all air and water pollution." b. "When evaluating new prescription drugs, the Food and Drug Administration should weigh each drug's potential health benefits against the potential health risks posed by known side effects." c. "Police forces should be enlarged until virtually all crime is eliminated." d. "Manufacturers of automobiles should seek to make cars safer, no matter the costs involved."
The three reasons why the aggregate demand curve slopes downward are
a. the international substitution effect, the net exports effect and the interest rate effect. b. the interest rate effect, the short run effect and the free rider effect c. the net exports effect, the real balance effect and the short run effect d. the real balance effect, the international substitution effect and the interest rate effect.