Refer to the information provided in Table 24.5 below to answer the question(s) that follow.Table 24.5All Numbers are in $ MillionRefer to Table 24.5. Suppose the economy is in equilibrium and the government increases spending by $50 million, the new equilibrium output is $________ million

A. 1,350
B. 1,450
C. 1,650
D. 1,750


Answer: C

Economics

You might also like to view...

Rent is the payment received by resource owners for the use of their natural resources

a. True b. False

Economics

Perfect price discrimination occurs when:

a. each customer is charged the maximum price that each is willing and able to pay. b. two classes of customers are charged different prices as they have the same elasticities of demand. c. senior citizens are offered restaurant discounts. d. the firm sets MR < MC for each class of customers. e. the firm charges same price to different customers so that it is equal to the equilibrium price.

Economics

How much is the concentration ratio in this industry?

Economics

Which type of expectations can lead to an asset price bubble?

A. Real B. Inverted C. Extrapolative D. Efficient

Economics