Companies spend ____ on pricing decisions
A) too much time
B) the right amount of time
C) too little time
D) too much money
C
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In Econland autonomous consumption equals 200, the marginal propensity to consume equals 0.9, net taxes are fixed at 100, investment is fixed at 200, government purchases are fixed at 300, and net exports are fixed at 50. Short-run equilibrium output in this economy equals:
A. 6600 B. 850 C. 7500 D. 5000
In the United States, the top 1% of income earners face an average federal tax rate of ________ and contribute ________ of all federal tax dollars received
A) 73%; 49.5% B) 20%; 5% C) 24%; 9.1% D) 29.4%; 24.2%
If the aggregate supply curve is vertical, an increase in aggregate demand will
A) increase both real and nominal GDP by the full multiplier effect. B) increase real GDP but not nominal GDP. C) increase the price level but not real GDP. D) increase real GDP by less than the full multiplier effect because of rising prices.
In an idealized laissez-faire world, the distribution of products is
a. the most efficient. b. the most fair. c. purely random. d. unpredictable.