If C = $400, I = $100, G = $50, NX = $30, and NFP = $5, how much is GDP?
A) $580
B) $575
C) $585
D) $550
A
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For the recessions in the United States since the 1950s
A) unemployment rises on average about 5 percentage points during the 12 months after a recession begins. B) unemployment falls on average by 2 percentage points during the 12 months after a recession begins. C) unemployment rises on average by about 1.2 percentage points during the 12 months after a recession begins. D) cyclical unemployment has been non-existent.
To correct for the social impact of pollution, the government should levy a per-unit tax
A) that is the same for all polluters regardless of their locations or sizes. B) according to the economic damage of the pollution. C) according to the business activity of the polluter. D) only to those polluters that can afford to pay for the tax.
Frictional unemployment refers to:
a. people who spend relatively long periods out of work. b. unemployment related to the ups and downs of the business cycle. c. people who are out of work and have no job skills. d. short periods of unemployment needed to match jobs and job seekers.
The following depicts a normal-form game of price competition.Firm AFirm B??Low PriceHigh Price?Low Price0,025,-5?High Price-5,2510,10Suppose the game is infinitely repeated, and the interest rate is 5 percent. Both firms agree to charge a high price, provided no player has charged a low price in the past. If both firms stick to this agreement, then the present value of firm B's payoffs are:
A. 190. B. 105. C. 525. D. 210.