In the above figure, the equilibrium level of planned saving plus net taxes is
A) $1.0 trillion.
B) $2.0 trillion.
C) $3.0 trillion.
D) $4.0 trillion.
A
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If Odetta's marginal value of freedom fries is $8 per pound, then
a. Odetta will be indifferent if she trades 1 pound of freedom fries for $8 worth of all other goods. b. Odetta thinks 1 pound of freedom fries is worth $8, 2 pounds of freedom fries are worth $16, and so forth. c. Odetta will not purchase any freedom fries if the price is more than $8 per pound. d. Odetta must sacrifice $8 in currency for every pound of freedom fries she chooses to purchase.
At a short-run macroeconomic equilibrium, real GDP is always equal to potential GDP
Indicate whether the statement is true or false
The economy's self-correcting mechanism appears to be more efficient at curing
a. recessionary gaps by reducing price levels. b. inflationary gaps by reducing price levels. c. unemployment by reducing wage levels. d. inflationary gaps through inflation.
Hong Kong is one of the top four largest markets in the world in foreign-exchange trades and the largest in Asia.
a. true b. false