Which one of the following is part of the financial account on the U.S. balance of payments?
A. Net transfers
B. Net investment income
C. U.S. goods exports
D. U.S. purchases of assets abroad
D. U.S. purchases of assets abroad
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In the above figure, when the efficient quantity of gloves is produced, the total consumer surplus is
A) $3,000. B) $15,000. C) $22,500. D) $45,000.
Refer to Table 26-3. Consider the hypothetical information in the table above for potential real GDP, real GDP, and the price level in 2016 and in 2017 if the Federal Reserve does not use monetary policy
If the Fed uses monetary policy successfully to keep real GDP at its potential level in 2017, which of the following will be lower than if the Fed had taken no action? A) real GDP and the inflation rate B) real GDP and potential GDP C) potential GDP and the inflation rate D) real GDP and the unemployment rate
Suppose the government spends $5,000 per person this year. The market for borrowing and lending is competitive, and the market interest rate is 6%. Which of the following plans to finance the government's spending is best for consumers?
a. A tax of $5,000 per person this year. b. A tax of $5,300 per person next year. c. An annual tax of $300 per person forever. d. All of the above plans have the same effect on consumers.
If the elasticity of demand is 3, and the price rises by 15 percent, then
A. The percentage change in quantity demanded will fall as income rises. B. The quantity demanded will rise by 4.5 percent. C. The quantity demanded will fall by 45 percent. D. The quantity demanded will increase by 5 percent.