Negative net exports means:
A. exports exceed imports.
B. depreciation exceed investment.
C. GDP is lower than it would have been if net exports had equaled zero.
D. GDP is higher than it would have been if net exports had equaled zero.
Answer: C
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If Rory McIlroy only earned $500 per hour playing golf instead of $1,000 per hour, what should he do?
A) He should be indifferent as to who does the weed-whacking, for the difference in hourly earnings would now be insignificant. B) He should hire a less-productive gardener. C) He should do the weed-whacking himself. D) He should still hire the gardener.
In the above figure, a sales tax of $1 per unit imposed on sellers ________ the price buyers pay and ________ the price that suppliers keep for themselves
A) affects; does not affect B) does not affect; affects C) does not affect; does not affect D) affects; affects
Higher personal income taxes
A) increase aggregate demand. B) increase disposable income. C) decrease aggregate demand. D) both B and C
Refer to the information provided in Figure 4.6 below to answer the question(s) that follow.Equilibrium in this market occurs at the intersection of curves S and D.
Figure 4.6Refer to Figure 4.6. If price is P1, the deadweight loss due to under production is area
A. A + C. B. C + F C. F + G. D. E + G.