As economic activity progresses through successive rounds of the multiplier, the additions to national income become larger and larger
Indicate whether the statement is true or false
F
You might also like to view...
If real GDP in year 1 is $72 million and real GDP in year 2 is $87 million, then the growth rate of real GDP is
A) 15 percent. B) $15 million. C) 20.8 percent. D) 17 percent. E) 83 percent.
Refer to Figure 2-13. Which two arrows in the diagram depict the following transaction: Stanley purchases the novel, "Night of Sorrows" for his summer reading pleasure
A) J and M B) K and M C) K and G D) J and G
If a firm is a profit maximizer and faces positive marginal costs,
A) there is a natural limit to the size of the firm, where MR = 0. B) there is no natural limit to the size of the firm; it can be as large as it wants to be. C) there is a natural limit to the size of the firm, where MR > 0. D) there is no natural limit to the size of the firm, hence the need for government regulation.
An example of a shortage is limited amounts of
What will be an ideal response?