National defense is an example of a good that is:
A. only nonexcludable.
B. largely nonrival and nonexcludable.
C. neither nonrival nor nonexcludable.
D. only nonrival
Answer: B
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If the economy has an MPC of 0.8, by how much will a $50 billion increase in government purchases increase GDP? By how much will a $50 billion increase in taxes decrease GDP?
What will be an ideal response?
Which of the following occurs if the expected profit increases?
A) Investment demand increases and the demand for loanable funds curve shifts rightward. B) The quantity of investment demanded decreases and there is a movement up along the demand for loanable funds curve. C) The quantity of investment demanded increases and there is a movement down along the demand for loanable funds curve. D) The savings increases and the supply of loanable funds curve shifts rightward. E) Investment demand decreases and the demand for loanable funds curve shifts leftward.
Where does equilibrium occur in an income expenditure diagram? What would be the effect if production is at either on the left or right side of the equilibrium point?
What will be an ideal response?
Supply-side economics is a short-run, countercyclical strategy.
Indicate whether the statement is true or false