In a closed economy, an increase in government spending, while taxes remain the same, will be accompanied by
A) a decrease in private investment and an increase in privates saving.
B) an increase in private investment and a decrease in private savings.
C) a decrease in private investment only.
D) an increase in private savings only.
A
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Refer to the table above, which gives five points on a nation's PPF. The opportunity cost of increasing the production of Y from 16 to 36 units is a total of
A) 1/5 unit of X per unit of Y. B) 2/5 unit of X per unit of Y. C) 1/2 unit of X per unit of Y. D) 3/5 unit of X per unit of Y.
To be useful, a resource must be renewable
Indicate whether the statement is true or false
Under a gold standard in which France defined 1 franc to be worth 1/50th of an ounce of gold, and the U.S. defined $1 to be worth 1/10th of an ounce of gold, then 1 U.S. dollar would exchange for __________ francs.
Fill in the blank(s) with the appropriate word(s).
The higher the Herfindahl-Hirschman Index, the more firms there are in a market.
Answer the following statement true (T) or false (F)