Refer to Figure 13-1. Ceteris paribus, an increase in households' expectations of their future income would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
A
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If changes in economic policy could cause the growth rate of real GDP to increase by 1% per year for 100 years, then GDP would be ________ % higher after 100 years than it would have been otherwise
A) 1.3 B) 2.0 C) 2.7 D) 3.8
A factory produces 1,000 radios a year, AVC = $10 and TFC = $5,000 . The factory's TC
a. equals $15. b. equals $5,005. c. equals $15,000. d. cannot be determined from the information given.
For panel data, ?it is best if all the years for each cross-sectional observation are adjacent and in chronological order.
Answer the following statement true (T) or false (F)
If a hurricane were to wipe out the majority of the eastern seaboard in the United States, it would likely cause a:
A. short-run supply shock. B. long-run supply shock. C. long-run demand shock. D. short-run demand shock.