Equilibrium GDP is reached when
a. aggregate expenditure exceeds GDP
b. aggregate expenditure is less than GDP
c. aggregate expenditure equals the level of output
d. the level of output is greater than aggregate expenditure
e. the level of output is less than aggregate expenditure
C
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Who of the following would be considered a discouraged worker?
A. Marissa has a Ph.D. in physics, but is currently employed full time driving a taxi. B. Anna Marie has been looking for a job every day for the last month, but has not been hired. C. Ray wants to work forty hours per week, but can only find work for twenty hours per week. D. Frank would like to work, but has not looked for work because he believes no jobs are available.
You want to purchase two umbrellas. The price is $40 per umbrella, 2 for $60, 3 for $75. What will be the marginal cost to you of buying a third umbrella?
A) $75 B) $25 C) $20 D) $15 E) $10
The rate of unemployment in a country is unrelated to its level of GDP
a. True b. False Indicate whether the statement is true or false
The characteristics that money should have include:
A. portability, durability, and flexibility. B. durability, flexibility and stability. C. durability, portability, and non-homogeneity. D. scarcity, portability, and divisibility.