The lowest-income fifth of the U.S. population ordinarily earns about 20 percent of the income.
Answer the following statement true (T) or false (F)
False
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In the Keynesian model, whenever planned investment is less than planned saving
A) the amount of planned investment will decrease, and real GDP will decrease. B) there will be an unplanned inventory increase, and real GDP will eventually decrease. C) there will be an unplanned inventory decrease, and real GDP will eventually increase. D) the amount of planned investment will decrease, and real GDP will remain unchanged.
If the real interest rate in the United States increases, foreign investors will ________ their demand for U.S. dollars because they desire to ________ more U.S. financial assets
A) increase; buy B) increase; sell C) decrease; buy D) decrease; sell
Characteristics of a perfectly competitive market include:
A. the absence of transaction costs. B. differentiated products. C. few sellers, some with a large market share. D. All of these are characteristics of a perfectly competitive market.
Suppose Beth Dollins, Nike's CEO, decides to produce 1 million pairs of cross-training shoes, but when the shoes reach the market, consumers decide to buy only 600,000 pairs. Assuming Nike's situation is similar to other producers, the most likely resulting scenario would be
a. an increase in overall production and an increase in the economy's unemployment b. a cutback in overall production and an increase in the economy's unemployment c. a decrease in real GDP and a decrease in the economy's unemployment d. a decrease in real GDP and no effect on the economy's unemployment e. no change, because Nike will not alter its production plans due to short-run market changes