In 2007, investment in France increased by 7 billion euros, consumption increased by 4 billion euros and government spending increased by 1.5 billion euros. Assume the price level was constant and the economy was at full employment. As a result, suppose that equilibrium expenditure increased by 21 billion euros. In this example, __________ is the induced expenditure and __________ is autonomous expenditure.
a) consumption; government spending
b) investment; consumption
c) investment; government spending
d) government spending; equilibrium expenditure
b) investment; consumption
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The opportunity cost of being unemployed tends to be the highest in which of the following countries?
A) Canada B) France C) the United Kingdom D) the United States
In the above figure, the total cost of producing the profit maximizing level of output is shown by rectangle
A) 0P1AQ1. B) 0P5EQ5. C) 0P4HQ4. D) 0P2BQ1.
Which statement is false?
A. The federal government collects more in Social Security taxes than in personal income tax. B. The federal government collects more in Social Security taxes than in corporate income tax. C. The federal government collects more in personal income tax than in corporate income tax. D. None of these statements are false.
In the above figure, what is the quantity of workers that would be hired by a monopsonist?
A. Q1 B. Q2 C. Q3 D. Q4