Income has risen in the simple Keynesian model. This could be the result of:,
a. an equal increase in government spending and taxes.
b. an increase in unplanned investment.
c. an increase in taxes
d. a decrease in autonomous consumption.
e. none of the above
A
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Two countries have equal population. These countries will have equal income per capita in a particular year if ________
A) the countries have equal inflation rate in that year B) the GDP of both the countries are equal in that year C) equal amounts of capital are available in both the countries in that year D) the size of the working age population in both the countries are equal in that year
The figure above shows the demand for and supply of labor of students in Smallville. If the minimum wage is set at $8 per hour, how many hours of students' labor are unemployed?
A) 12,000 hours B) 9,000 hours C) 6,000 hours D) 0 hours
For the past three years, you have earned economic profits of $5,00 . per year by being the only vendor selling bottled tap water at your town's Fourth of July celebration. When you go to city hall to apply for a vending permit for this year's
celebration, the city clerk mentions that fifty new firms have received permits to sell tap water this year. a . What can you do to protect your economic profit in the short run? b. What can you do to protect your economic profit in the long run?
The gold standard prevented a nation from controlling its domestic economy through monetary policy
a. True b. False Indicate whether the statement is true or false