If there was a positive technological shock which increased the demand for labor, then
A) imports would increase. B) GDP would decrease.
C) GDP would increase. D) imports would decrease.
C
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Taxes collected on the basis of the benefits-received principle
a. provide the states with their main sources of revenue b. tend to redistribute income from rich to poor c. collect the same total amount from each individual d. connect the revenue side of the budget with the spending side of the budget e. make it possible for government to spend money on activities that markets can't provide
In economics "short run" is defined as
a. as a period of time when at least one of the four factors of production is fixed in supply b. A period of time during which at least one production input is fixed while others are variable.
Suppose the equilibrium price in the market is $10 and the price elasticity of demand for the linear demand function at the market equilibrium is ?1.25. Then we know that:
A. marginal revenue is $2. B. demand is unit elastic. C. marginal revenue is $50. D. demand is inelastic.
Refer to the given information. In equilibrium, I g is:
Answer the question on the basis of the following information for a hypothetical economy. All values are in nominal terms. M = $100 V = 2 C a = $160 X n = $10 G = $10 A. $20. B. $10. C. $5. D. $50.