Assume the marginal propensity to consume (MPC) is 0.80 and the government increases taxes by $100 billion. The aggregate demand curve will shift to the:
a. left by $80 billion.
b. right by $200 billion.
c. right by $400 billion.
d. left by $400 billion.
d
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The percentage change in per capita real GDP measures economic growth because it takes into account all of the following variables EXCEPT
A) the percentage change in population. B) the percentage change in nominal GDP. C) the percentage change in the quality of life. D) the percentage change in the inflation rates.
Looking at the record of concentration in the United States from 1992 to 2012, one finds concentration has
A. steadily increased. B. risen dramatically in the past 15 years. C. changed very little. D. fallen steadily except in wartime.
The relative concept of poverty means that poverty will never be eliminated.
Answer the following statement true (T) or false (F)
A World View titled "Export Ratios" examines the openness of trade for several countries based on the trade to GDP ratio. According to the excerpt, which country exports the most as a percentage of GDP?
A. China. B. The United States. C. Sweden. D. United Arab Emirates.