Refer to the information provided in Figure 23.7 below to answer the question(s) that follow.
Figure 23.7Refer to Figure 23.7. In Ichabodia, planned investment varies directly with income. Ichabodia's planned investment function is represented by
A. Panel A.
B. Panel B.
C. Panel C.
D. Panel D.
Answer: A
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________ emphasized that animal spirits affect GDP
A) Adam Smith B) Milton Friedman C) David Ricardo D) John Maynard Keynes
In the macroeconomic long run
A) real GDP is always below potential GDP. B) there is full employment with no unemployment. C) output always is above potential GDP. D) there is full employment and real GDP is equal to potential GDP.
A country that during its entire history has borrowed more from the rest of the world than it has lent to it is a ________, and a country that during its entire history has invested more in the rest of the world than other countries have invested in
it is a ________. A) debtor nation; investor nation B) borrower nation; creditor nation C) debtor nation; creditor nation D) net borrower nation; net lender nation
Refer to Table 2-17. What is James's opportunity cost of making a tricycle?
A) 2 tricycles B) 3/4 of a wagon C) 1/2 of a wagon D) 1/2 of a tricycle