The term "derived demand" refers to
A) a firm's estimated demand curve derived from sales data.
B) the demand for a factor of production that is derived from the demand for the good the factor produces.
C) the demand for financial products called derivatives.
D) a demand curve that derives from the availability of resources.
B
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Suppose the government expenditure increases by $200 and the simple spending multiplier equals 5 . The final increase in output will be: a. $6000
b. $500. c. $200. d. more than $200. e. less than $200.
The term pork-barrel legislation refers to
a. government spending programs financed with user charges. b. the exchange between legislators of their votes on issues. c. legislation that bundles together a number of projects, each benefiting local interests at the expense of general taxpayers. d. the actions of legislators who are willing to trade their political votes for campaign contributions from special interest groups.
Exhibit 11-6 Aggregate demand and supply model
In Exhibit 11-6, if the aggregate demand curve is at AD2, the government should:
A. raise taxes to move to AD1. B. not change its policy. C. cut taxes to move to AD3. D. cut spending to move to AD3.
In constructing the short-run aggregate supply curve, we define the short run as the period in which _____
Fill in the blank(s) with the appropriate word(s).