Everything else the same, if government expenditure increases by $400 billion and imports increase by $400 billion, then GDP
A) increases by $400 billion.
B) increases by $200 billion.
C) decreases by $400 billion.
D) does not change.
E) decreases by $200 billion.
D
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While making a purchase decision using marginal thinking, a buyer should buy the good that yields the:
A) highest marginal benefit per dollar spent. B) lowest marginal benefit per dollar spent. C) highest average benefit plus marginal benefit per dollar spent. D) lowest average benefit plus marginal benefit per dollar spent.
Budget lines are drawn on a diagram with the
A) price of the good on the vertical axis and its quantity on the horizontal axis. B) price of one good on the vertical axis and the price of another good on the horizontal axis. C) quantity of the good on the vertical axis and its price on the horizontal axis. D) quantity of one good on the vertical axis and the quantity of another good on the horizontal axis.
What authority was given to the president in the Taft-Hartley Act?
a. to seek an injunction to prevent a union strike b. to prohibit unions trying to organize federal workers c. to approve labor contracts in the defense industry d. to choose an arbitrator to resolve labor disputes
When firms advertise their products, they are attempting to:
A. shift the supply curve of the product to the right. B. shift the supply curve of the product to the left. C. shift the demand for the product to the right. D. shift the demand for the product to the left.