Which does an expanding economy NOT do?
A. Free up resources for the public sector
B. Allow the middle class to enjoy more luxuries
C. Create a lower real GDP
D. Boost living standards for the poor
Answer: C
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If it took 20 years for real GDP to double, what was the growth rate of real GDP?
A) 4.5 percent B) 3.0 percent C) 3.5 percent D) 4 percent E) 5 percent
The table above gives Jane's total utility from magazines and CDs. The price of a magazine is $4 and the price of a CD is $10. If Jane's total budget for magazines and CDs is $70.00 per week, what is her total utility at her utility maximizing consumer equilibrium?
A) 2480 units B) 1870 units C) 210 units D) 30 units
Given a demand curve, explain how total revenue may be calculated.
What will be an ideal response?
The saving of the government sector is called ________ saving.
A. private B. public C. aggregate D. national