The above table shows some (but not all) national income accounting data for a hypothetical country. According to these data, the value of GDP is ________ billion
A) $2100
B) $1850
C) $2000
D) $2050
A
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If a Balanced Budget Amendment to the U.S. Constitution would be "pro-cyclical," an economist would consider that to be ________ economic stability.
A. independent of concerns regarding B. counterproductive to C. enormously helpful for D. slightly helpful for
For normal goods, income elasticity is:
A. greater than 0. B. equal to 1. C. greater than 1. D. less than 0.
The ________ is defined as the ratio of the dollar price of a basket of goods and services in the U.S., divided by the dollar price of the same basket of goods and services in a foreign county
A) real exchange rate B) ordinal exchange rate C) nominal exchange rate D) expected exchange rate
Espresso Yourself Coffee Shop hires workers in a competitive labor market to make coffee. The ingredients required to make each cup of coffee cost 50 cents. The coffee shop's hourly output of coffee varies with the number of workers hired, as shown in the table. Each cup of coffee sells for $2.00.Number ofworkersCoffee(cups/hour)00125245360470575 The marginal product of the fourth worker is ________ cups of coffee per hour.
A. 60 B. 17.5 C. 10 D. 70