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 ________ increase in investment changes equilibrium output to $240 million.
A. $5 million
B. $10 million
C. $20 million
D. $50 million
Answer: B
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Consider the usual case where a higher wage rate increases firms' marginal costs. In this case, the industry's demand curve for labor
a. is more inelastic than the individual firms' demand curves would indicate. b. coincides with the horizontal sum of individual firms' demand curves. c. contains only substitution effects but no scale effects. d. is horizontal at the going market wage.
What role does research and development play in increasing productivity?
What will be an ideal response?
Transfer payments are excluded from GDP
Indicate whether the statement is true or false
How much is the average propensity to consume when disposable income is $800 billion?
A. 0
B. .25
C. .5
D. .75