If C = $400, I = $100, G = $50, NX = $30, and NFP = $5, how much is GDP?
A. $585
B. $580
C. $550
D. $575
Answer: B
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If a price floor of $23 were placed in the market in the graph shown, which area represents deadweight loss?
A. C + F
B. C + D + F
C. G
D. B + C + E + F
The crowding-in effect depends on the sensitivity of investment to
a. GDP, as does the crowding-out effect. b. interest rates, whereas the crowding-out effect depends on the sensitivity of investment to GDP. c. interest rates, as does the crowding-out effect. d. GDP, whereas the crowding-out effect depends on the sensitivity of investment to interest rates.
Which of the following CAN be true about a person who is officially considered unemployed?
A. That person has a job B. That person is an active member of the military C. That person is a prisoner D. That person has been turned down for employment in the last four weeks
For a monopolist, the point where the marginal revenue curve intersects the horizontal axis is:
A. located at the same point where the demand curve intersects the horizontal axis, since for a monopolist, the demand curve and the marginal revenue curve overlap. B. unable to be determined without knowing the location of the marginal cost curve. C. one-fourth of the distance between the origin and the point where the demand curve intersects the horizontal axis. D. one-half the distance between the origin and the point where the demand curve intersects the horizontal axis.