The following would cause an upward shift in the C + I + G + X curve EXCEPT
A) an increase in disposable income.
B) an increase in export spending.
C) a decrease in import spending
D) an increase in household wealth.
A
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Economists use the term variable costs to refer to
a. prices of inputs that are subject to sudden change, like fuel. b. an increase in the price of any input. c. costs that vary with the type of final product being produced. d. costs that vary with the quantity of output produced.
In an economy with a population of 300 million persons, 130 million hold civilian jobs and 8 million are not working but are looking for jobs. The unemployment rate is
a. 6.2 percent. b. 8.6 percent. c. 2.7 percent. d. 9.4 percent. e. 5.8 percent.
Refer to Figure 3.1, which shows Molly's and Ryan's individual demand curves for compact discs per month. Assuming Molly and Ryan are the only consumers in the market, what is the market quantity demanded at a price of $3?
A. 6 B. 9 C. 15 D. 20
Suppose quantity supplied increases from 16 to 24. Using the mid-point formula, the percentage change in quantity supplied is:
A. 4% B. -40% C. 0.4% D. 40%