Refer to the information provided in Table 23.7 below to answer the question(s) that follow. Table 23.7
Refer to Table 23.7. At an aggregate output level of $600 billion, the unplanned inventory change is
A. -$100 billion.
B. -$50 billion.
C. $0.
D. $50 billion.
Answer: A
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Refer to the below graphs. (Assume that the pre-migration labor force in Country A is 100 and that it is 150 in country B.) After immigration occurs, total business income in country B:
A. Increases by $475M
B. Increases by $50M
C. Decreases by $50M
D. Decreases by $475M
"Full employment":
a. Means that everyone who is searching for a job has one. b. Occurs when there is 0% unemployment. c. Occurs when the labor force participation rate equals the employment rate. d. Occurs when there is 0% cyclical unemployment.
What type of economic system is commonly described as being controlled by an "invisible hand"?
A. a traditional economy B. a command economy C. a market economy D. a communist economy
What is the most important determinant of aggregate demand?
a. investment b. government spending c. consumption d. net exports