Tony Stark and Steve Rogers decide to build a new gym, rather than lift weights at home. This decision
A. decreases nominal GDP.
B. decreases real GDP.
C. increases GDP.
D. has no impact on GDP.
Answer: C
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A macroeconomist is interested in
a. explaining how changes in sellers' behavior affect prices of a particular good. b. explaining price changes in a particular market. c. explaining why the unemployment rate is higher. d. All of the above are correct.
Relative to explicit price fixing, with implicit price fixing:
A. firms will find it more difficult to figure out why the price leader has set the price that it has. B. the reasons for the price leader's pricing strategy will be more clear and less ambiguous. C. firms face a higher risk of prosecution for antitrust violations. D. consumers will pay higher prices.
Which of the following would reduce GDP by the greatest amount?
A. A $20 billion increase in taxes. B. $20 billion increases in both government spending and taxes. C. $20 billion decreases in both government spending and taxes. D. A $20 billion decrease in government spending.
Refer to the information provided in Figure 28.6 below to answer the question(s) that follow.
Figure 28.6Refer to Figure 28.6. Panel A represents the typical shape of the
A. short-run Phillips curve. B. long-run Phillips curve. C. short-run aggregate supply curve. D. long-run aggregate supply curve.