The SAS curve and the LAS curve
A) intersect at potential GDP.
B) are parallel at potential GDP.
C) are perpendicular to one another at potential GDP.
D) None of the above answers is correct.
A
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Aggregate demand increases if the quantity of money ________
A) decreases or tax rates increase B) or transfer payments decrease C) remains constant or tax rates increase D) increases or tax rates decrease
Public versus private initiatives to expand canals and railroads in the United States:
a. featured a large percentage of government investment. b. featured a small percentage of government investment. c. were dominated by private investment. d. were exclusively private due to "strict constructionism."
Which of the following words best reflects the initial attitude of less-developed countries toward GATT?
a. grateful, because it provided them with subsidies b. proud, because it recognized the special status they had in world trade c. unknowing, because it started out as a secret organization d. annoyed, because they saw it as a rich man's club e. terrified, because it seemed as if it was designed to reimpose colonialism
Vito attends college and works part-time job as a waiter. He can work up to 40 hours each week at his job, which pays $8 per hour. The table below shows his utility from different levels of leisure and income. Vito is currently working 20 hours per week. If Vito decides to work 30 hours instead, what will be his marginal utility loss from having less leisure?
a. 34
b. 24
c. 10
d. 18