Refer to the table above. Laborland's net exports equal ________
A) -$20 billion B) $25 billion C) -$18 billion D) $18 billion
C
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The figure above shows that the government provides a subsidy to the farmers of ________ million
A) $350 B) $1,050 C) $50 D) $100 E) $700
A variable that tends to move later than aggregate economic activity is called
A) a leading variable. B) a coincident variable. C) a lagging variable. D) an acyclical variable.
If MPC = 0.75, a $40 billion decrease in government purchases would have what size effect on the "first round" of changed consumption, and what effect on AD?
a. reduce "first round" consumption by $160 billion; reduce AD by $640 billion b. reduce consumption by $120 billion; reduce AD by $480 billion c. reduce consumption by $40 billion; reduce AD by $160 billion d. reduce consumption by $30 billion; reduce AD by $160 billion
Consumers should purchase a good up to the point where MU = P
a. True b. False Indicate whether the statement is true or false