How much is it?
$500 billion
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Which of the following leads to a decrease in real GDP?
A) an increase in interest rates B) an increase in government spending C) an increase in the inflation rate in other countries, relative to the inflation in the United States D) Households have increasingly optimistic expectations about future income.
The low saving rate in the United States is no cause for concern, so long as people in other countries are saving and are willing to send their savings into the U.S. economy by buying our assets. Comment
What will be an ideal response?
The market demand curve for a particular good
a. may be horizontal even if the individual consumers' demand curves are downward sloping b. will always shift to the right as the price of the good decreases c. is even more likely to be downward sloping than an individual consumer's demand curve d. will always shift to the right if consumers' incomes increase e. must be flatter than the flattest of the individual consumer demand curves
If the market wage for fast-food restaurants is $4 and the government enforces a minimum wage of $7, the unemployment rate will
A. Increase as quantity of labor supplied increases and quantity of labor demanded decreases. B. Not be affected by the minimum wage. C. Increase as quantity of labor supplied increases and quantity of labor demanded increases. D. Increase as quantity of labor supplied decreases and quantity of labor demanded increases.