During the postbellum period of U.S. history,
(a) the U.S. balance of payments experienced a deficit throughout the entire period.
(b) manufacturing exports became the top foreign exchange earner.
(c) cotton exports continued to be the top foreign exchange earner.
(d) the U.S. never borrowed from foreigners.
(c)
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Use the aggregate expenditures model and assume the marginal propensity to consume (MPC) is 0.80 . A decrease in government spending of $1 billion would result in a decrease in GDP of:
a. $0. b. $0.8 billion. c. $1.0 billion. d. $5.0 billion. e. $8.0 billion.
Josh is eating pizza at his favorite Italian restaurant. Below is his utility from this consumption:Table 19.1Slice of PizzaTotal UtilityMarginal UtilityFirst slice2020Second slice3919Third slice-15Fourth slice59-Refer to Table 19.1. What is Josh's total utility from consuming the third slice of pizza?
A. 0 utils. B. 54 utils. C. 5 utils. D. 20 utils.
In a perfectly competitive industry, the firm's marginal revenue curve is
A) downward sloping. B) upward sloping. C) vertical. D) horizontal.
Which of these variables is not a variable in the equation for the asset market equilibrium condition?
A) Saving B) Expected rate of inflation C) Real interest rate D) Real income