Aggregate output is increased by a decrease in
A) autonomous consumption.
B) government spending.
C) planned investment.
D) net taxes.
D
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A decrease in the demand for chocolate with no change in supply will create a ________ of chocolate at today's price, but gradually the price will ________
A. surplus; fall B. shortage; fall C. surplus; rise D. shortage; rise
The tax treatment of corporate profit means that corporations
a. cannot profitably issue common stock. b. choose investment opportunities more efficiently than do other types of firms. c. limits the things in which corporations can invest. d. can generally avoid paying federal taxes but not state taxes.
Pat earns $25,000 per year (after taxes), and Pat's spouse, Chris, earns $35,000 (after taxes). They have two pre-school-aged children. Childcare for their children costs $12,000 per year. Given that Chris doesn't want to stay home with the kids, regardless of what Pat does, Pat should stay home with the kids if, and only if, the value of Pat spending more time with the kids is greater than:
A. $12,000 per year. B. $37,000 per year. C. $13,000 per year. D. $25,000 per year.
To make the calculation of real GDP more accurate, in 1996 the BEA switched to using
A) base-year prices. B) chain-weighted prices. C) current prices. D) market prices.