In the economy of Talikastan in 2015, consumption was $800, GDP was $2000, government purchases were $400, and investment was $600 . What were Talikastan's net exports in 2015?
a. -$200
b. $200
c. $1800
d. Net exports cannot be calculated from the information given.
b
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If government purchases increase by $10 billion and the economy's MPC is .8, the aggregate demand curve will shift ________.
A. leftward by $40 billion at each price level B. leftward by $50 billion at each price level C. rightward by $50 billion at each price level D. rightward by $10 billion at each price level
If a used-car dealer enjoys economic profits, then
A) as a group, its customers necessarily suffered a like amount in economic losses. B) as a group, its customers were necessarily made worse off. C) as a group, its competitors necessarily suffered economic losses. D) all of the above are true. E) none of the above is true.
"Economics is the study of how people eliminate scarcity." Do you agree or disagree? Why?
What will be an ideal response?
A profit-maximizing, monopolistically competitive restaurant serves 60 burgers a day at a total cost of $180 and earns a total profit of $180 . In the long run, everything else equal, the
a. restaurant will charge more than $6 per burger. b. restaurant's average total cost will rise and its total revenue will fall. c. restaurant will sell more burgers at a lower average profit per burger. d. All of the above are correct.