If more people join carpools and travel to work together
A) the demand curve for freeway space shifts leftward.
B) the supply curve for freeway space shifts rightward.
C) the supply curve for freeway space shifts leftward.
D) a and b
E) none of the above
A
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How does an increase in the price level affect the position of the C + I + G + X curve and in turn the equilibrium level of real GDP?
A) The C + I + G + X curve shifts down, thereby reducing the equilibrium level of real GDP. B) The C + I + G + X curve shifts down, thereby increasing the equilibrium level of real GDP. C) The C + I + G + X curve shifts up, thereby reducing the equilibrium level of real GDP. D) The C + I + G + X curve shifts up, thereby increasing the equilibrium level of real GDP.
The government may impose industrial safety regulations and occupational licensing requirements in which of the following economic systems?
A. Laissez-faire economy B. Pure capitalism C. Mixed market economy D. Macroeconomic system
A widget has an opportunity cost of 4 wadgets in Saudi Arabia and 2 wadgets in the United States. Given these opportunity costs, you would suggest that:
A. Both countries should produce an equal amount of each. B. Saudi Arabia specialize in wadgets and the United States in widgets. C. No trade should take place. D. Saudi Arabia specialize in widgets and the United States in wadgets.
Answer the following statements true (T) or false (F)
1. If the University of Missouri, a public school, builds a new laboratory, then it will be counted as part of I g in GDP. 2. Government purchases are the largest component of aggregate expenditures in the United States. 3. When U.S. households buy new imported European and Japanese cars, the total value of the cars is counted as part of C in the GDP accounts. 4. Net exports are positive when exports are greater than imports.