The above table gives data for the nation of South Hampton. There are no imports into or exports from South Hampton. The equilibrium level of real GDP is
A) $700 billion. B) $400 billion. C) $500 billion. D) $600 billion. E) $800 billion.
A
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Average tariff levels in the United States in the last decade are
A) about equal to the average since 1930. B) above the average since 1930. C) positive, but below the average since 1930. D) zero, as there are no longer any tariffs in the United States.
A person buys a bond with a face value of $10,000 for $9,325. Each year until the maturity date the bond buyer receives a coupon payment of $650 from the issuer of the bond. The coupon rate on the bond is
A) 9.11 percent. B) 6.5 percent. C) 7.0 percent. D) 6.75 percent.
Output in the short run is determined by which of the following factors when an economy operates at full employment?
A. demand B. supply C. the price level D. the labor force
Private goods can have external benefits.
Answer the following statement true (T) or false (F)