It takes a machine 2 hours to make a unit of Good X, and 1 hour to make a unit of Good Y. If the machine can be used for 10 hours, which of the following combinations will lie on its production possibilities curve?
A) 5 units of Good X and 2 units of Good Y
B) 3 units of Good X and 4 units of Good Y
C) 2 units of Good X and 2 units of Good Y
D) 6 units of Good X only
B
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Refer to Figure 4-10. What is the area that represents consumer surplus after the imposition of the ceiling?
A) A + B + C B) A + B + D + F + G C) A + B + D D) A + B + D + F
In the case of an upward-sloping aggregate supply curve, the change in real GDP brought about by a change in government spending will be less than that predicted by the simple government purchases multiplier
Indicate whether the statement is true or false
Automatic stabilizers
A. Are zero at full employment. B. Help to moderate the extremes of the business cycle. C. Cause spending to decrease during a recession. D. Are included in discretionary fiscal spending.
Colin's demand for golf at his local club each season is P = 50 - 2Q. If the golf course charges $26 dollars per round of golf, how much could it charge Colin in a membership fee before he would not play there?
A. $288 B. $144 C. $1,250 D. $312