Refer to the above figure. Point B
A. equals government expenditures.
B. equals autonomous consumption plus planned investment plus autonomous government spending plus autonomous net exports.
C. equals autonomous consumption.
D. has no special significance.
Answer: B
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Refer to Figure 5-13. The efficient equilibrium quantity of gasoline is ________ million gallons per month
A) 20 B) 32 C) 48 D) 56
Public service announcements, mandatory health warnings on cigarette packages, and the prohibition of cigarette advertising on television are all policies aimed at shifting the demand curve for cigarettes to the right
a. True b. False Indicate whether the statement is true or false
In 1970, Professor Plum earned $12,000; in 1980, he earned $24,000; and in 1990, he earned $36,000 . If the CPI was 40 in 1970, 70 in 1980, and 130 in 1990, then in real terms, Professor Plum's salary was highest in
a. 1970 and lowest in 1980. b. 1970 and lowest in 1990. c. 1980 and lowest in 1970. d. 1980 and lowest in 1990.
A risk-neutral person would be equally happy with $1 or a 50% chance of winning $2.
a. true b. false