In both Gamma and Delta average labor productivity is $40,000 per worker per year. The population of Gamma is 200,000 and the population of Delta is 400,000. Fifty percent of the population in each country is employed. Total output in Gamma is ________ and total output in Delta is ________.
A. $8 billion; $16 billion
B. $4 billion; $8 billion
C. $100,000; $200,000
D. $2.4 billion; $4.8 billion
Answer: B
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Firms can acquire access to savings directly ________
A) by issuing securities B) through the payment of taxes to the federal government C) by borrowing from banks D) through the depositing of funds in depository institutions
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a. cause total spending on the good to increase. b. cause total spending on the good to decrease. c. keep total spending the same, but reduce the quantity demanded. d. keep total spending the same, but increase the quantity demanded.
When a tax is placed on the buyers of cell phones, the size of the cell phone market
a. and the effective price received by sellers both decrease. b. decreases, but the effective price received by sellers increases. c. increases, but the effective price received by sellers decreases. d. and the effective price received by sellers both increase.