The balanced budget multiplier is always equal to:
A. 0.50.
B. 0.75.
C. 1 / MPC.
D. 1.
Answer: D
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Suppose that Rockport Shoes planned to produce and sell $200 million of shoes in 2003, but by year's end was able to sell only $180 million. The remaining unsold $20 million would be recorded as
a. personal consumption expenditures b. a business loss c. an addition to business inventory d. an increase in disposable income e. a part of the underground economy
Which of the following workers is least likely to lose his/her job during a recession?
A. A roofer B. A carpenter C. A police officer D. An automobile assembly worker
"Ceteris paribus" means
A) "invisible hand." B) "other things equal." C) "making all the necessary changes." D) "at the aggregate level."
Education creates positive externalities
Indicate whether the statement is true or false