Refer to the above figure. A movement from B to C would be NOT be the result of
A. an increase in consumption spending.
B. an increase in worker productivity.
C. an increase in government spending.
D. an increase in foreign income levels.
Answer: B
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Collateralizable wealth is
A) wealth in non-tangible assets. B) any asset that can be used to obtain a loan. C) wealth that increases and income increases. D) wealth based on mortgage lending.
In the classical model, what happens to the level of real GDP if aggregate demand increases?
A) Real GDP increases. B) Real GDP decreases. C) Real GDP would increase at first, then decrease. D) Real GDP would remain the same, at equilibrium.
Perfect competition
A) has many sellers. B) homogenous products. C) free entry and exit. D) all of these choices.
While it is possible to erect barriers to foreign competition and save domestic jobs, restricting international trade may impose large costs on an economy
a. True b. False Indicate whether the statement is true or false