According to the above table, there is an excess quantity demanded of 1500 DVDs at the price

As domestic income rises, net exports will tend to

a. fall, since exports remain the same but imports increase. b. rise, since exports remain the same but imports fall. c. fall, since exports are lower and imports remain the same. d. rise, since exports are higher and imports remain the same. e. may either rise or fall, since exports and imports change in opposite directions.

If a firm acquires new machines that complement labor

A. there will be no effect on the marginal product of labor curve. B. the amount of labor services hired will decrease. C. the marginal revenue product of labor curve will shift upward. D. the marginal revenue product of labor curve will shift downward.

The real GDP per capita allows economic comparison between countries.

Answer the following statement true (T) or false (F)

If aggregate hours are 100 billion hours and labor productivity is $40 an hour, than real GDP equals

A) $100 billion. B) $40 billion. C) $100 trillion. D) $2.5 trillion. E) $4 trillion.