Between 1900 and 2007, the ratio of actual to natural real GDP hit its low point in
A) 1933.
B) 1904.
C) 1944.
D) 1982.
A
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Suppose that real GDP is initially $14 trillion and the government attempts to increase real GDP to $15 trillion
The marginal propensity to consume is 0.8, and every $1.00 increase in real government spending crowds out $0.50 in real planned investment expenditures. Which increase in government spending below could yield the desired level of real GDP? A) $100 billion B) $125 billion C) $200 billion D) $400 billion
If the monopolist charges a high price, he will sell:
A. as many as he supplies to the market at that price. B. more than demanders want to buy at that price. C. less than if he were to charge a lower price. D. more than if he were to charge a lower price.
"John buys more of good X as his income increases, ceteris paribus," means
a. there is no cause-and-effect relationship between John's income and the quantity of good X he purchases if ceteris paribus applies b. John's demand for good X depends exclusively on income c. John's income and purchases of this good are being held constant d. the change in John's income is the only factor being considered in explaining the change in his purchase of good X e. the price of this good must have decreased in order for John to buy more of the good, regardless of changes in his income
An increase in the inflation rate of one country relative to another country will probably cause
A) an increase in exports for the inflating country. B) a balance of trade deficit for the inflating country. C) a current account surplus for the inflating country. D) an increase in the amount of official reserves held by the inflating country's central bank.