If C = 300 + 0.75Y and I = 200, then the equilibrium level of income is
A. 750.
B. 1,000.
C. 1,800.
D. 2,000.
Answer: D
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A change in the demand for apples could result from any of the following EXCEPT
A) a change in the number of buyers. B) increased preferences for fresh fruit consumption for health reasons. C) a change in the price of an apple. D) a change in the price of a banana. E) a change in income.
Based on the data in the table above, at the short-run equilibrium
A) the unemployment rate is less than the natural unemployment rate. B) the unemployment rate is greater than the natural unemployment rate. C) the money wage rate will rise in the long run. D) the economy is at full employment.
A perfectly competitive firm's short-run supply curve is the:
a. average total cost curve. b. demand curve above the marginal revenue curve. c. same as the market supply curve. d. marginal cost curve above the average variable cost curve.
Octavia does not currently have a job, but she has applied for several jobs in the previous week. Eve is an unpaid stay-at-home mom who has not searched for work in recent years. Who does the Bureau of Labor Statistics count as "out of the labor force"?
a. Octavia but not Eve b. Eve but not Octavia c. both Octavia and Eve d. neither Octavia nor Eve