An economy that is currently producing a gross domestic product worth $200 million but is capable of producing an output worth $180 million at full-employment equilibrium would have a(n):
a. recessionary gap of $50 million.
b. expansionary gap of $20 million.
c. recessionary gap of $30 million.
d. expansionary gap of $40 million.
b
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Participating nations in the 2015 Paris Agreement on Climate Change agreed to reduce overall greenhouse gases emissions
A. to yield a net increase in the global temperature of no more than 2.7 degrees Fahrenheit by 2050. B. to yield a net decrease in the global temperature by 2.7 degrees Fahrenheit by 2050. C. to as much as 10 percent below the levels of the 2015 through 2050. D. to as much as 20 percent below the levels of the 2015 through 2025.
Refer to the information provided in Table 13.1 below to answer the question(s) that follow. Table 13.1Price ($)Quantity4.002,0003.502,4003.002,8002.503,2002.003,6001.504,0001.004,400Refer to Table 13.1. If a monopoly faces the demand schedule given in the table, at what level of output is its marginal revenue maximized?
A. 2,400 B. 2,800 C. 3,200 D. 3,600
As the price of computers falls, the quantity of computers demanded increases. This is an application of:
A. the production possibilities curve B. the law of demand C. the law of supply D. needs versus wants
Refer to the figure above. What price does the firm face in the market?
A) $2 B) $4 C) $6 D) $8