Which of the following goods are available at highly economical prices because the use of mass production techniques substantially reduces their per unit production costs?
What will be an ideal response?
a. automobiles
b. DVD players
c. microwave ovens
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If real GDP is less than potential GDP, then the economy is ________ equilibrium
A) at an above-full-employment B) not in short-run macroeconomic C) at a below-full-employment D) in long-run macroeconomic
If the current account has a negative balance of $100 and the capital and financial account has a positive balance of $80, there will be ________ in official reserves of ________
A) a decrease; $20 B) an increase; $20 C) an increase; $180 D) a decrease; $180
The unemployment rate is an important economic statistic that can tell us about the health of the economy. If the unemployment rate turns out to be high or higher than anticipated, we would expect
A) that jobs are less difficult to find. B) it is more likely that an incumbent president will be re-elected. C) that investors will be more optimistic about the economy. D) that stock prices are more likely to fall.
In Econland autonomous consumption equals 700, the marginal propensity to consume equals 0.80, net taxes are fixed at 50, planned investment is fixed at 100, government purchases are fixed at 100, and net exports are fixed at 40. The vertical intercept of the expenditure line is:
A. 990. B. 890. C. 900. D. 940.