Using the data in the table above, the growth rate of real GDP has
A) increased from year to year.
B) increased more rapidly from year to year.
C) remained constant from year to year.
D) slowed from year to year.
E) probably changed, but more information is needed about the price level to determine by how much it has changed.
A
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After Hurricane Andrew hit Florida and Louisiana, consumers expressed outrage at the high prices being charged for chainsaws, generators, and bottled water. If governments followed the consumers’ demands and imposed price ceilings in these markets, what is the likely result?
What will be an ideal response?
Partial crowding out implies that a government deficit financed by selling bonds to the non-bank public will
A) have no effect on aggregate demand. B) reduce aggregate demand. C) increase aggregate demand. D) reduce aggregate demand in the short run but cause demand to increase in the long run.
Just before the Asian crisis, Thailand had large current account deficits.
Answer the following statement true (T) or false (F)
Using the information in the figure and table below, which of the following statements is true?
a. Consumers are just as well off in all three markets. b. Producers are just as well off in all three markets. c. Deadweight loss is the same in all three markets. d. Total welfare is lower in a monopoly that charges a single price than the monopoly in either perfect competition or perfect price discrimination.