In the classical range of the aggregate supply curve, greater spending for consumer and investment goods results in:
a. stagflation.
b. more unemployment.
c. greater output.
d. a higher price level.
d
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A direct implication of the special interest theory of government is that _____
a. political pressure from special interests pushes government to expand b. special interests get whatever they want c. special interests do not get what they want under Incrementalism d. the general public general can apply more pressure than special interests and thus will move the budget in drastic ways, depending upon public sentiment
In the above table, what is the marginal revenue product of the 1st worker?
A) $92 B) $70 C) $40 D) $8
A person who is risk averse will like gaining $1,000 more than they will dislike losing $1,000
a. True b. False Indicate whether the statement is true or false
The income approach to measuring GDP:
A. uses the factors payments made by businesses to households to estimate GDP. B. ignores how income is earned and focuses instead on how it is used. C. adds up all household expenditures to calculate aggregate income and GDP. D. focuses on how income is spent.