In economic analysis, which of the following is considered an injection?
a. saving
b. taxes
c. imports
d. exports
d
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Which of the following situations leads to an unplanned increase in inventories of $2.0 trillion?
A) real GDP = $5.0 trillion and aggregate planned expenditures = $5.0 trillion B) real GDP = $6.0 trillion and aggregate planned expenditures = $4.0 trillion C) real GDP = $8.0 trillion and aggregate planned expenditures = $5.0 trillion D) real GDP = $5.0 trillion and aggregate planned expenditures = $7.0 trillion E) More information is needed about planned investment and actual investment.
When the competitive firm's value of the marginal product of labor intersects the market-wage level, the firm:
A. can increase its profits by hiring any amount less than this point. B. can increase its profits by hiring any amount greater than that point. C. should consider shutting down since it is not earning profits. D. has found the profit-maximizing quantity of labor to hire.
The consumer price index (CPI) _____ inflation because it includes an item in the market basket only after the product becomes _____
a. overstates; unpopular b. overstates; obsolete c. overstates; widely used d. understates; widely used e. understates; obsolete
During the past 200 years, income per person has
What will be an ideal response?