Suppose that national saving is $1456 billion, investment is $1945 billion, and private saving is $1590 billion. How much is the current account balance?
A. -$221 billion
B. $221 billion
C. $489 billion
D. -$489 billion
Answer: D
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
In the early colonies, private landholdings
a. gradually replaced common ownership. b. occasionally supplemented common ownership. c. were only legalized after 1650. d. were the norm from the very beginning of colonization.
Earth Movers & Shakers operates 3 iron ore mines. The accompanying table shows each mine's total daily production and the current number of miners at each mine. All miners work for the same wage, and each miner in any given mine produces the same number of tons per day as every other miner in that mine. Total Tons Per DayNumber of MinersMother Lode10025Scraping Bottom3010Middle Drift7515 Suppose Earth Movers & Shakers needs to fill an order for 60 tons of ore in a single day. If it has no other orders for that day, it should:
A. take it all from Mother Lode. B. take it all from Middle Drift. C. take 20 tons from each of the three mines. D. take 30 tons from Scraping Bottom and 30 tons from Middle Drift.
A movement down the aggregate supply curve is caused by a(n)
A. decrease in aggregate supply. B. decrease in the price level. C. increase in aggregate supply. D. increase in the price level.