If the price of vitamin C increases, the supply of vitamin C will also increase. This is an example of a(n) ______ statement.
a. normative
b. positive
c. subjective
d. irrational
b. positive
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The above table contains information about the nation of Syldavia. There are no income taxes or imports in this nation. When real GDP is $15 billion, firms' inventories experience an unplanned
A) increase of $5 billion. B) decrease of $10 billion. C) increase of $4 billion. D) decrease of $1 billion. E) increase of $10 billion.
Offering employees an efficiency wage may: a. reduce turnover
b. attract the most productive workers. c. lead to a reduction in training costs. d. result in any of the above.
Which of the following best expresses the payment a lender receives for lending money for three years?
A. PV/(1 + i)3 B. 3PV C. FV/ (1 + i)3 D. PV/(1+i)3
Refer to the table above. If the real rate of interest is 2%, then the equilibrium level of GDP will be:
A. $800 billion
B. $1000 billion
C. $1200 billion
D. $1400 billion