Additionally, some aspects of fiscal policy act
What will be an ideal response?
as automatic stabilizers to moderate the ups and downs of the economy along the business cycle.
wn|&d
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The total volume of business sales in our economy is several times larger than GDP because ________.
A. GDP does not take taxes into account B. GDP grossly understates the value of our annual output C. GDP excludes intermediate transactions D. Total sales are in money terms and GDP is always stated in real terms
The price of ________ in terms of ________ is referred to as the real exchange rate
A) foreign goods; foreign services B) domestic goods; the domestic currency C) domestic goods; foreign goods D) domestic goods; domestic services
Table 35.1CountryTons of SoybeansComputerChina100300United States150750Based on the information in Table 35.1, assume China and the United States have the same amount of resources with which to produce soybeans and computers and they produce no other goods. The opportunity cost of producing 1 ton of soybeans in the United States is
A. 1/3 of a computer. B. 3 computers. C. 1/5 of a computer. D. 5 computers.
The market for bagels contains two firms: BagelWorld (BW) and Bagels'R'Us (BRU). The owners of the two firms decide to fix the price of bagels. The table below shows how each firm's profit (in dollars) depends on whether they abide by the agreement or cheat on the agreement.
In the Nash equilibrium of this game:
A. Bagel World abides and Bagels'R'Us cheats B. both firms abide by the agreement C. both firms cheat on the agreement D. Bagel World cheats and Bagels 'R' Us abides