Suppose each of the following is a highly-paid seller of services. Who provides a productive service?
A) Dionne, the astrologer
B) Jerry, the comedian
C) Roger, the movie critic
D) Joe, the vice president
E) All of the above.
E
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If the federal government collects $10 billion in taxes and then spends it on the public, the money supply
A) rises by $20 billion. B) rises by $10 billion. C) falls by $10 billion. D) is unaffected.
You can either invest in project A or B. Project A could have a value of $150 with a probability of 0.1 or a value of $75 with probability 0.9 . Project B could have a value of $110 with probability 0.2 or a value of $65 with a probability of 0.8 . Which project should you invest in?
a. Project A b. Project B c. Neither of the projects d. You cannot tell from the information presented
Simplifying the budget document by concentrating only on major groupings and eliminating line items would: a. ensure that cabinet members spend more time on administering an approved budget and defending a proposed budget. b. require longer-term economic forecasts that are difficult to obtain
c. prevent elected officials from including projects they prefer for their personal gains in the budget. d. increase the flexibility of the discretionary fiscal policy implemented by the federal government. e. require shorter-term economic forecasts that are easy to obtain.
A decrease in the price of a good will a. increase demand
b. decrease demand. c. increase quantity demanded. d. decrease quantity demanded.