If an increase in investment leads to a bigger increase in national income this is called the:
a) Accelerator
b) Aggregate demand
c) Monetarism
d) Multiplier
Answer: d) Multiplier
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The adding up of individual economic variables to obtain economy wide totals is called:
A. average labor productivity. B. monetary policy. C. normative analysis. D. aggregation.
An economic service need not be
a. useful. b. scarce. c. transferable. d. tangible.
The growth rate of real GDP in Astoria is 7.5%. Assume the growth rate of velocity is constant at a rate of 5%
If Astoria wishes to decrease the inflation rate from the annual rate of 5.99% to a target rate of 4.5% and maintain its current growth rate of real GDP, what will the growth rate of the money supply need to be? A) 6.49%. B) 7%. C) 8%. D) 8.49%.
In the above figure, if this natural monopolist were forced to use marginal cost pricing, it would sell the product at the price
A) A. B) C. C) E. D) F.