Food stamps are ______
a. financed by the federal government but administered by the states
b. financed by the federal government and the states and administered by the states
c. financed by the federal government and the states and administered by localities
d. financed by the states but administered by the counties
a
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All else equal, if there are diminishing returns, then if a country raised its capital by 100 units last year and by 100 units this year,
a. the increase in output was greater for this year than last year. b. the increase in output was greater last year than this year. c. the increase in output is the same in both years. d. None of the above is necessarily correct.
If we consider the equation PAE = A + bY the independent part of the equation that depends on income is:
A. PAE B. A C. Y D. b
An increase in the supply of money will lead to ____ in equilibrium real GDP and ____ in equilibrium price level.
A. an increase; an increase B. an increase; a decrease C. a decreases; an increase D. a decrease; a decrease
In the short run, an increase in government expenditure will...
I. shift the aggregate demand curve rightward II. increase real GDP III. increase the government expenditure multiplier IV. increase the tax multiplier a) I & II b) I & III c) I, II, & III d) III & IV