Refer to the information provided in Table 21.8 below to answer the question(s) that follow. Table 21.8
Refer to Table 21.8. The value for NNP in billions of dollars is
A. 970.
B. 1,030.
C. 1,060.
D. 1,200.
Answer: B
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In the figure above, D0 is the demand for labor curve. Imposing a minimum wage of $6 per hour will initially
A) increase employment from 20 to 40 million hours per year. B) increase employment from 30 to 40 million hours per year. C) decrease employment from 40 to 20 million hours per year. D) decrease employment from 30 to 20 million hours per year.
A monopolist has the demand and marginal cost schedules given in the above table. If the monopoly can perfectly price discriminate, what is the profit-maximizing level of output and price?
What will be an ideal response?
Suppose Mexico can produce 5 autos or 10 corn. Suppose the United States can produce 4 autos or 20 corn. If opportunity costs are constant for both countries, which of the following would NOT be a potential terms of trade?
A) 1 auto for 3 corn B) 1 auto for 4 corn C) 1 corn for 1/3 of an auto D) 1 corn for 1 auto
No distinction is made between the effects of anticipated and unanticipated policy in ________
A) traditional Keynesian theory B) new Keynesian theory C) real business cycle theory D) traditional Keynesian and real business cycle theory