Refer to the information provided in Table 24.7 below to answer the question(s) that follow.
Table 24.7All Numbers are in $ Million
Refer to Table 24.7. Suppose the economy is in equilibrium and the government increases spending by $100 million, the new equilibrium output is $________ million
A. 1,600
B. 1,800
C. 1,900
D. 2,400
Answer: C
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Social Security payments are included in personal income
a. True b. False Indicate whether the statement is true or false
Refer to Exhibit 1-1. If the student whose study habits are illustrated here is currently studying for the 8th hour, she should
A) cut back on the number of hours she is studying because the marginal benefit of studying for the 8th hour is less than the marginal cost of doing so. B) cut back on the number of hours she is studying because the marginal benefit of studying for the 8th is greater than the marginal cost of doing so. C) increase the number of hours she is studying because the marginal benefit of studying for the 8th hour is less than the marginal cost of doing so. D) increase the number of hours she is studying because the marginal benefit of studying for the 8th hour is greater than the marginal cost of doing so.
Most cartels cease to be effective because:
A. of the incentive to cheat on the cartel agreement. B. the dominant firm buys out the other firms. C. of strict enforcement of antitrust legislation. D. consumers discover the cartel and buy from other firms instead.
As of 2015, ________ of U.S. adults aged 25-29 had at least a bachelor's degree.
A. 8.2% B. 13% C. just over 50% D. 35.6%