Refer to Figure 2-11. Which country has a comparative advantage in the production of cashews?
A) Pakistan B) Indonesia
C) They have equal productive abilities. D) neither country
A
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Which of the following would increase aggregate demand?
a. A deficit in the government budget b. An increase in taxes c. An increase in government borrowing d. A surplus in the government budget e. A decrease in government spending
If the firm's fixed costs double while variable costs are unchanged, then
a. marginal cost more than doubles. b. marginal cost doubles. c. marginal cost remains unchanged. d. average total cost remains unchanged. e. average variable cost doubles.
What is the total impact on aggregate demand because of a fiscal stimulus?
A. The amount of the initial increase in government spending B. The changes in consumer spending, but not the change in government spending C. The initial injection plus all subsequent increases in consumer spending triggered by the stimulus D. The initial injection plus the consumption increase in the first round
The amount of US debt owned by the English
A. has remained relatively low and constant (relative to other countries). B. dropped to an all-time low in 2015. C. continues to rise. D. dropped from the 1940s through the 1970s, spiked in the 1980s, dropped in the 1990s and early-2000, and rose in the 2010s.