If consumption = $5,000; investment = $800, government purchases = $700, exports = $30, imports = $60, and transfer payments = $340, then _____
a. GDP = $7,400
b. GDP = $7,740
c. GDP = $3,140
d. GDP = $6,470
e. GDP = $6,840
d
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
The most effective government policy for reducing poverty is to
a. reduce discrimination in the job market based on gender and race b. abandon all government programs and rely on private charity c. reduce programs that promote education and training of the poor d. dramatically increase Medicare payments to the elderly e. promote economic growth and job creation
If banks are willing to make loans and consumers and businesses are willing to borrow money, this constrains the money supply.
Answer the following statement true (T) or false (F)
If American demand for purchases of British goods has decreased, how would you expect the equilibrium exchange rate in the market for dollars to respond? Support your answer graphically
What will be an ideal response?