In an economy, the value of inventories rose from $100 billion in 2014 to $150 billion in 2015. In calculating total investment for 2015 compared to 2014, national income accountants would:
A. increase it by $50 billion.
B. increase it by $150 billion.
C. decrease it by $50 billion.
D. decrease it by $100 billion.
Answer: A
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The above table has data from the nation of Atlantica. Based on these data, at what point does saving equal zero?
A) None, dissavings is present at all of the above points. B) Between disposable income of $0.0 and $1.8 trillion C) Between disposable income of $4.0 trillion and $5.8 trillion D) Between disposable income of $2.0 trillion and $3.2 trillion E) None, savings is present at all of the above points.
Jones can brew 10 gallons of lager or 5 gallons of stout every three months, or any linear combination in between. Which statement below is true?
A) It costs Jones 5 gallons of stout for every 10 gallons of lager brewed. B) It costs Jones 1 gallon of stout for every 2 gallons of lager brewed. C) It costs Jones 1/2 gallon of stout for every 1 gallon of lager brewed. D) All of the above are true.
Refer to Figure 5-4. What is the deadweight loss from producing at the market equilibrium?
A) area D B) area E C) area C D) area F
One major reason that economists are concerned about unemployment is that
A) unemployment always leads to frictional unemployment. B) unemployment reduces the size of the labor force. C) unemployment shifts the production possibilities curve outward. D) the economy is producing less output than if there were full employment.