Refer to the information provided in Figure 23.11 below to answer the question(s) that follow.
Figure 23.11Refer to Figure 23.11. A $10 million increase in investment changes equilibrium output to
A. $240 million.
B. $225 million.
C. $175 million.
D. $90 million.
Answer: A
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The business cycle ________ on Delta Airlines since the company's inception over 80 years ago
A) has always had a negative effect B) has had virtually no effect C) has always had a positive effect D) has had a large effect
During the great canal-building era, from roughly 1815 to 1843, Hughes and Cain (2011) claim that
(a) most canals earned normal profits. (b) no canals earned profits. (c) all canals in the initial period of construction earned normal profits but none did in the later period because of over-construction and competition from the railroads. (d) the Erie Canal was one of the few, perhaps the only one, to earn normal profits.
Which procedure seems to be most useful to structure a macroeconomic analysis?
a. (1) Describe the economic setting in the three key markets; (2) Analyze the chain reaction of economic causes and effects; (3) Identify the economic shock. b. (1) Analyze the chain reaction of economic causes and effects; (2) Identify the economic shock; (3) Describe the economic setting in the three key markets. c. (1) Identify the economic shock; (2) Analyze the chain reaction of economic causes and effects; (3) Describe the economic setting in the three key markets. d. (1) Identify the economic shock; (2) Describe the economic setting in the three key markets; (3) Analyze the chain reaction of economic causes and effects. e. (1) Describe the economic setting in the three key markets; (2) Identify the economic shock; (3) Analyze the chain reaction of economic causes and effects.
Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower