Refer to the given table. The total change in income resulting from the initial change in investment will be:
A. $100.
B. $20.
C. $80.
D. $200.
A. $100.
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Government spending on transfer payments is included in government purchases when calculating GDP because it results in the production of new goods and services
Indicate whether the statement is true or false
Autarky is a situation in which a country
A) only imports products. B) only exports products. C) does not trade with other countries. D) has no absolute advantage in any production.
Assume government policy increases the demand for corn
A) The consumer surplus of corn buyers will increase. B) The producer surplus of corn growers will decrease. C) The producer surplus of corn growers will increase. D) The producer surplus of corn growers will not change.
Which of the following is not true of derived demand?
A. It derives from the price of output goods. B. It is a function of marginal physical productivity. C. It is the marginal revenue product curve. D. It is not affected by prices of the input factors.