The proven-reserves figure used in most years-to-depletion calculations encompasses oil reserves that are ________ and ________ to extract
A) known; economical
B) both known and unknown; economical
C) known; both economical and uneconomical
D) both known and unknown; both economical and uneconomical
A
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If the economy is on the LM curve, but is to the right of the IS curve, then the ________ market is in equilibrium, but aggregate ________ exceeds aggregate ________
A) goods; output; demand B) goods; demand; output C) money; output; demand D) money; demand; output
According to the "self-correcting mechanism" in the AD-AS framework, ________
A) the aggregate demand curve shifts up or down as needed to bring the economy to full employment B) the inflation rate changes as needed to move the economy along the short-run aggregate supply curve until output is at potential output C) the long-run aggregate supply curve shifts until it intersects both the aggregate demand and short-run aggregate supply curves at a single point D) inflation and expected inflation are unaffected by deviations of output from potential output E) none of the above
If you had a salary of $1,000,000, (a) how much Social Security tax would you have to pay and (b) How much Medicare tax would you have to pay?
What will be an ideal response?
If domestic savings is less than domestic investment, then
A) reserve assets will increase. B) the government runs a budget deficit. C) there will be negative foreign investment. D) a trade surplus must result.