As a result of slow economic growth in 2011, many companies including Cisco Systems, Lockheed Martin, and Cracker Barrel Old Country Store cut production and employment as a result of the sluggish growth in the total amount of spending in the economy. The total amount of spending in the economy is known as
What will be an ideal response?
aggregate expenditure
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Hector's wealth is zero, he expects to work for another 45 years at a constant salary of $80,000 and live for another 60 years
Assuming taxes are zero, if Hector receives an unexpected $20,000 increase in salary his first year of work and he completely smooths consumption over his lifetime, his annual consumption is A) $67,500 B) $75,000. C) $80,000. D) $111,111.
A point outside a society's production possibilities curve is one that is
A) unattainable given the resources of the society. B) technologically inefficient. C) undesirable given the implied underemployment of resources. D) desirable since it satisfies the desires of the population.
If the cost of a typical basket of goods in the U.S. is $100 and in China it is 500 yuan, and the nominal exchange rate is 10 yuan per dollar, what is the real exchange rate?
A. 1. B. 2. C. 3. D. 4.
A country that has demonstrated the ability to catch up to the technology leaders by investing in both physical and human capital is called
a. a dependent economy. b. a converging economy. c. an advancing economy. d. a predatory economy.