A rising price level should shift the expenditure schedule
a. upward and decrease equilibrium real GDP.
b. downward and increase equilibrium real GDP.
c. downward and decrease equilibrium real GDP.
d. upward and increase equilibrium real GDP.
c
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Your friend has just received a new book he ordered and you want to borrow it. Your friend values reading the book at $10, while you are willing to pay a maximum amount of $15 to read it
a) What is the equilibrium outcome in this case? b) Will the outcome be any different if you own a book that your friend wants to read? Assume that the value that each of you places on this book is the same as that you placed on the previous book.
The income approach measures GDP by adding together compensation of employees, proprietors' income, ________
A) net investment, saving, and farmers' income B) net interest, rental income, and corporate profits C) net investment, rental income, and corporate profits D) net saving, investment income, and profits
Capital inflows are debits and capital outflows are credits.
Answer the following statement true (T) or false (F)
The "Asian miracle" refers to the:
A. fact that countries like Japan and South Korea have had consistent growth despite their failing industrial policies. B. high growth in countries like Japan and South Korea despite the absence of a democratic government. C. success countries like Japan, South Korea, and Taiwan have had with import substitution policy. D. success countries like Japan, South Korea, and Taiwan have had with export-led growth policy.