Obstacles that restrict trade, either domestic or international, will
What will be an ideal response?
a. reduce output, income, and the general living standard of the populace
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If the tax multiplier is -1.5 and a $200 billion tax increase is implemented, what is the change in GDP, holding everything else constant? (Assume the price level stays constant.)
A) a $133.33 billion increase in GDP B) a $133.33 billion decrease in GDP C) a $30 billion increase in GDP D) a $300 billion decrease in GDP E) a $300 billion increase in GDP
C = $40 million + 0.6(1 - 0.2)Y I = $35 million G = $31 million NX = -$6 million Based on the above data, the equilibrium level of GDP is
A) $113.6 million. B) $192.3 million. C) $208.3 million. D) $833.3 million.
Rational behavior often involves ______.
a. anticipating the future b. reflecting on the past c. random acts d. a disregard of values
Refer to the information provided in Table 22.5 below to answer the question(s) that follow.
Table 22.5
Refer to Table 22.5. If 2014 is the base year, the inflation rate between 2014 and 2015 is
A. 3.9%. B. 6.1%. C. 7.4%. D. 10.2%.