To achieve a $500 billion decrease in AD, if the MPC is 0.8, what decrease in government purchases would be called for?
a. $100 billion
b. $400 billion
c. $500 billion
d. $625 billion
a
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Leaving the labor force or finding a job are two ways that:
A. an unemployment spell can begin. B. a person can become an involuntary part-time worker. C. a person can become a discouraged worker. D. an unemployment spell can end.
Change in the price of a good causes the demand schedule for that good to shift.
Answer the following statement true (T) or false (F)
Importers collect additional revenues from a ________, and governments collect additional revenues from ________
A) quota; import bans B) quota; tariffs C) tariff; voluntary export restraints D) voluntary export restraint; quotas
On average, since 1900 U.S. output has grown by roughly ________ percent per year.
A. 9 B. 1 C. 3 D. 6