Refer to the table above. If imports falls to $45,000 in the next year, ________, all other variables remaining unchanged
A) gross domestic product will fall by $5,000 B) gross domestic product will fall by $ 10,000
C) gross domestic product will increase by $5,000 D) gross domestic product will increase by $ 10,000
C
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The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
The fundamental value of a stock equals
A) the future value of all future dividends. B) the present value of all future dividends. C) the present value of current and future dividends. D) the present value of all future capital gains.
For profit-maximizing, competitive firms, the demand curve for each factor of production equals the value of the marginal product of that factor
a. True b. False Indicate whether the statement is true or false
Aggregate demand and aggregate supply analysis suggest that, in the short run, an expansionary monetary will result in
a) a shift in the aggregate demand curve to the left b) a shift in the aggregate supply curve to the left c) an increase in real GDP without much inflation when the economy is on the horizontal portion of the aggregate supply curve d) an increase in real GDP with high inflation when the economy is on the horizontal portion of the aggregate supply curve e) an increase in real GDP and no inflation when the economy is on the verticall portion of the aggregate supply curve