Refer to the above graph. If this economy was an open economy without a government sector, the level of GDP would be:
A. $100 billion
B. $200 billion
C. $300 billion
D. $400 billion
C. $300 billion
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Explain the difference between nominal wages and real wages
What will be an ideal response?
Midwestern corporation issues bonds. Southern corporation issues stock. Which corporation used equity financing?
a. both Midwestern corporation and Southern corporation b. Midwestern corporation but not Southern corporation c. Southern corporation but not Midwestern corporation d. neither Midwestern nor Southern corporation
The graph that shows the relationship between the size of a tax and the tax revenue collected by the government is known as
a. deadweight curve b. tax revenue curve c. Laffer curve d. Reagan curve e. none of the above is correct
To be able to engage in profit-maximizing price searching, a monopoly firm must be able to
A) prevent the entry of other firms into the market for its product. B) induce the entry of other firms into the market for its product. C) avoid earning negative economic profits in the short run. D) always earn zero economic profits.