Refer to the information provided in Table 24.7 below to answer the question(s) that follow.
Table 24.7All Numbers are in $ Million
Refer to Table 24.7. Which of the following variables is considered autonomous?
A. saving
B. planned investment
C. planned government spending
D. both B and C
Answer: D
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Crowding out refers to
A) increases in consumption, investment, or net exports caused by an increase in government purchases. B) increases in tax revenues associated with increases in tax rates. C) reductions in tax revenues associated with increases in tax rates. D) decreases in consumption, investment, or net exports caused by an increase in government purchases.
Government investment has resulted in an increase in entrepreneurial activity in Ange’s country. This will impact the country’s production possibilities curve by ______.
a. negating it
b. shifting it outward
c. shifting it inward
d. causing it to fluctuate
One reason mainstream economists see the world differently than do noneconomists is that economists tend to stress the importance:
A. that incentives have on choices. B. of fairness. C. of the limited competence of individuals to know what is good for themselves. D. of power and how it leads to exploitation.
Why have commodity prices fallen since 1850?
A. The demand for productive resources has fallen faster than the supply of those resources. B. The demand for productive resources has grown faster than the supply of those resources. C. The supply of productive resources has increased, while the demand has fallen. D. The supply of productive resources has grown faster than the demand for those resources.