The average revenue curve can also be described as the demand curve.
Answer the following statement true (T) or false (F)
True
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Use the following information to answer the next question.C = A + .875(Y - T)A = $10,000I = $2,000G = $2,500T = $1,000NX = $1,025What will be the change in consumption if net exports decrease by $250?
A. Consumption will not change. B. Consumption will fall by $1,750. C. Consumption will rise by $218.75. D. Consumption will fall by $250.
In the United States, long-term poverty affects
a. more families than short-term poverty. b. an equal number of families as short-term poverty. c. slightly fewer families than short-term poverty. d. many fewer families than short-term poverty.
In the economy of Talikastan in 2015, consumption was 75% of GDP, government purchases were $200, imports were $50 and 125% of the value of exports, investment was one-sixth of the value of consumption. What was Talikastan's GDP in 2015?
a. $218 b. $2500 c. $1520 d. $2100
Assuming the economy is experiencing a recessionary gap, classical economists predict that:
A. wages will remain fixed. B. monetary policy will sell government securities. C. higher wages will shift the short-run aggregate supply curve leftward. D. lower wages will shift the short-run aggregate supply curve rightward.