Gross Domestic Product accurately measures the environmental costs of producing all goods and services
a. True
b. False
Indicate whether the statement is true or false
False
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The unemployment of some groups, such as low-skill workers, may increase as a result of the imposition of a minimum wage.
Answer the following statement true (T) or false (F)
Deflation refers to a:
a. decreasing relative prices. b. decreasing price level. c. slowing down of the rate of inflation. d. federal government policy of running budget surpluses.
The short-run aggregate supply curve: a. Is a schedule showing the relationship between the price level and the quantity of real GDP supplied. b. Is typically upward sloping
c. reflects output prices changing relative to input prices. d. all of the above
If net exports decrease by $10 billion and the MPC is 0.9, what is the ultimate change in GDP?
a. $100 billion b. -$10 billion c. $10 billion d. -$100 billion e. -$9 billion