Planned expenditures ________
A) are directly affected by government purchases
B) increase when there is a reduction in taxes
C) decrease when disposable income decreases
D) all of the above
E) none of the above
D
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Demand curves for the services of productive resources
A) have no meaning, because people must have income in order to live. B) obey the law of demand. C) tend to be perfectly elastic in the long run because any resource can ultimately function as a substitute for any other. D) tend to be perfectly inelastic in the short run as long as production processes are determined by technology.
According to classical macroeconomic theory, changes in the money supply change real GDP but not the price level
a. True b. False Indicate whether the statement is true or false
"Privatization of government owned industries is a more desirable way to operate an economy" is a ________ statement about ________ policy.
A. positive; structural B. normative; monetary C. normative; structural D. positive; fiscal
Refer to the information provided in Figure 7.1 below to answer the following question(s). 
Figure 7.1Refer to Figure 7.1. A corn producer's profit is $1,500 and it is producing 500 bushels of output. Then he must have a cost per bushel of
A. $1. B. $2. C. $3. D. $4.