For any change in net taxes, we can calculate the resulting change in equilibrium GDP by using the following formula:
a. change in GDP = -MPC/(1 - MPC)
b. change in GDP = [-MPC/(1 - MPC)]? change in taxes
c. change in GDP = MPC ? change in taxes
d. change in GDP = MPC/(1 - MPC)
e. change in GDP = [-MPC/(1 - MPC)] + change in taxes
B
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At an annual interest rate of 14 percent, about how many years will it take $100 to double in value?
a. 3 b. 4 c. 5 d. 7
Assuming that a is positive, theories of short-run aggregate supply are expressed mathematically as
a. quantity of output supplied = natural rate of output + a(actual price level - expected price level). b. quantity of output supplied = natural rate of output + a(expected price level - actual price level). c. quantity of output supplied = a(actual price level -expected price level) - natural rate of output. d. quantity of output supplied = a(expected price level - actual price level) - natural rate of output.
In late 2008, Wal-Mart agreed to settle 63 of the over 70 lawsuits filed against them across the United States, paying out ____________ million.
A. less than $125 B. between $125 and $250 C. between $352 and $640 D. over $800
Is the following quotation consistent with the theory of consumer behavior? “The yield on time spent working increases as the result of economic growth. Productivity per hour rises. This means that the time allocation which has represented
equilibrium at our previous income level is disrupted. The yield on time devoted to other activities must also be raised. We are aware that time in production becomes increasingly scarce with economic growth. What we will now claim in addition to this is that changes in the use of time will occur, so that the yield on time in all other activities is brought into parity with the yield on working time. In other words, economic growth entails a general increase in the scarcity of time.” (From: Staff an Tinder, The Harried Leisure Class) Please provide the best answer for the statement.