Most developed countries experience deficit spending.
Answer the following statement true (T) or false (F)
True
Although U.S. budget deficits receive the most attention, budget imbalances are a common feature of fiscal policy. Many nations had budget deficits in 2010.
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When the aggregate demand curve shifts rightward, the price level ________ and the unemployment rate ________
A) decreases; increases B) decreases; decreases C) increases; decreases D) does not change; does not change E) increases; increases
The demand for Picasso paintings rises (holding everything else equal) when
A) stocks become easier to sell. B) people expect a boom in real estate prices. C) Treasury securities become riskier. D) people expect gold prices to rise.
The features of the U-Form of firm organization are
a. workers can easily develop a high degree of functional expertise b. it is difficult for employees to share information across positions within a division c. employee evaluation is hampered by managers having different skill sets than workers d. coordination across divisions is simple and does not take much management time
The demand for good X is estimated to be Qxd = 10, 000 ? 4PX + 5PY + 2M + AX, where PX is the price of X, PY is the price of good Y, M is income, and AX is the amount of advertising on X. Suppose the present price of good X is $50, PY = $100, M = $25,000, and AX = 1,000 units. Based on this information, the income elasticity of good X is:
A. 0.008. B. 0.82. C. 0.082. D. 8.2.