The benefit of an activity is
A) the gain or pleasure that it brings.
B) not measurable on the margin.
C) purely objective and measured in dollars.
D) the value of its opportunity cost.
E) measured by what must be given up to get one more unit of the activity.
A
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In a certain economy, the components of aggregate spending are given by: C = 100 + 0.9(Y - T) - 500rI = 150 - 1,000rG = 200NX = 50T = 100Given the information about the economy above, the immediate impact on aggregate expenditures of a one-percentage-point increase in the real interest rate (r) from 5 percent to 4 percent is ________, and the eventual impact on short-run equilibrium output is ________.
A. an increase by 15 units; a increase by 150 units. B. an increase by 150 units; a decrease by 1,500 units. C. an increase by 150 units, an increase by 150 units. D. a decrease by 15 units, a decrease by 150 units.
During the 1980s, Harley-Davidson, the American motorcycle maker asked Congress for tariff protection from large motorcycles imported from Japan
Harley-Davidson argued that their company needed protection so the company could reorganize and, after some time had passed, could become more competitive. Harley-Davidson's argument is similar to the ________ argument for protection. A) anti-dumping B) save domestic jobs C) infant-industry D) national security E) bring diversity and stability
If autonomous consumption is greater than zero and the marginal propensity to consume is greater than zero, but less than one, the consumption function will first be above and then below the 45 degree line
a. True b. False Indicate whether the statement is true or false
Each point on the demand curve is
a. demand for the product. b. a quantity demanded at that price. c. the amount that people want to buy. d. the amount people want to buy at different income levels. e. All of the above are correct.