During 2012, a country has consumption expenditures of $3.0 trillion, investment expenditures of $1.5 trillion, government expenditure of $1.5 trillion, exports of $1.0 trillion, and imports of $1.5 trillion
Aggregate expenditure for the country is
A) $5.5 trillion. B) $6.5 trillion. C) $6.0 trillion. D) $8.5 trillion. E) $7.0 trillion.
A
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A reduction in the supply of labor will cause
A. wages to increase and employment to increase. B. wages to increase and employment to decrease. C. wages to decrease and employment to increase. D. wages to decrease and employment to decrease.
If a government-imposed price ceiling causes the observed price in a market to be below the equilibrium price,
A) there will be excess demand. B) there will be excess supply. C) the curves will shift to make a new equilibrium at the regulated price. D) None of the above.
The president of Tucker Motors says, "Lowering the price won't sell a single additional Tucker car." The president believes that the price elasticity of demand is:
a. perfectly elastic. b. perfectly inelastic. c. unitary elastic. d. elastic. e. inelastic.
What is the standard deviation of the payoff from an investment that yields $5,000 with a probability of 0.15 and $500 with a probability of 0.85?
A. $0 B. $2,581,875 C. $42.50 D. $1,606.82