Consider the above figure. At a price level of 150
A) total planned production exceeds total planned real expenditures.
B) total planned real expenditures exceed total planned real production.
C) the price level would rise.
D) inventories of unsold goods decline.
A
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In the above figure, the most efficient way to produce 15 units is to hire
A) 2 workers. B) 3 workers. C) 4 workers. D) 5 workers.
The Fed was committed to keeping interest rates low to assist Treasury financing of budget deficits
A) only during World War I. B) during the Great Depression. C) during World War I and World War II. D) throughout the entire existence of the Fed.
When a country's inflation rate varies substantially from year-to-year and is therefore difficult to predict, this will
a. reduce the volume of trade and the gains derived from it. b. reduce the risk accompanying investment. c. encourage entrepreneurs to innovate and develop better products. d. increase the level of foreign investment in the country.
Sam, who owns a carpentry shop, discovered that with 4 laborers he could produce 18 cabinets per day. With 5 laborers he produced 25 cabinets and with 6 laborers he produced 36 cabinets. What was the MPP of the 5th laborer?
A) 8 cabinets B) 7 cabinets C) 6 cabinets D) 4 cabinets