Refer to the information. If both government spending and taxes are zero, the equilibrium level of GDP is:
The following information is for a closed economy:
A. $200.
B. $300.
C. $400.
D. $500.
B. $300.
You might also like to view...
The above figures show the market for HD televisions. If there are severe earthquakes that destroy a significant number of HD television manufacturing plants, which figure shows the effect of the earthquake?
A) Figure A B) Figure B C) Figure C D) Figure D E) None of the figures represent this change.
A weaker peso, relative to the US dollar, causes the demand for US exports to Mexico to______ and the demand for US imports from Mexico to______
a. Increase; Decrease b. Decrease; Increase c. Increase; Increase d. Decrease; Decrease
If firms in a monopolistically competitive industry are making economic profits: a. firms will likely be subject to regulation. b. barriers to entry will be strengthened
c. new firms will enter the market. d. some firms must exit the market.
Which of the following is an example of a natural monopoly?
a. Government b. The railway system c. An internet service provider d. An automobile manufacturer