In a certain economy, the components of aggregate spending are given by: C = 500 + 0.8(Y - T) - 300rI = 200 - 400rG = 200NX = 10T = 150 Given the information about the economy above, what is the short-run equilibrium output if the real interest rate is 4 percent?
A. 1,372
B. 3,810
C. 3,860
D. 762
Answer: B
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The record of international receipts and payments is called the
A) official settlements account. B) balance of payments. C) U.S. official reserves. D) current account. E) capital and financial account.
Sam has two jobs, one for the winter and one for the summer. In the winter, he works as a lift attendant at a ski resort where he earns $13 per hour. During the summer, he drives a tour bus around the ski resort, earning $11 per hour. During the summer months, what is Sam's opportunity cost of taking an hour off work to go hiking?
a. $13 b. between $11 and $12 c. $11 d. less than $11
According to the theory of international trade, it makes sense for a company to disperse its production to those countries where
What will be an ideal response?
Which statement is false?
A. The problems of the inner city ghettos were just as bad 50 years ago as they are today. B. There was a huge outward migration of middle- and working-class blacks from the ghettos in the 1970s and early 1980s. C. About 2 out of 5 poor blacks live in areas of extreme poverty. D. None of these statements are false.