Investment spending, capital formation, and rapid technological progress are directly related.
Answer the following statement true (T) or false (F)
True
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Assume the federal government raises taxes (a contractionary fiscal policy). If the tax increase affects AS and AD equally, then real GDP will ________ and the price level will ________
A) decrease; decrease B) increase; be unchanged C) increase; increase D) decrease; be unchanged E) increase; decrease
Suppose two people with the same level of income and wealth have different discount rates. Joe has a very high discount rate and Jim has a very low discount rate. Which one of the following is TRUE?
A) Joe is more likely to borrow than Jim. B) Joe is less likely to borrow than Jim. C) Joe and Jim will borrow the same amount. D) Neither Joe nor Jim would be borrowers.
Firms that are required to participate in affirmative action programs do end up hiring more minority employees
a. True b. False
?Marginal propensity to consume is equal to the change in ____ divided by the change in ____
a. consumption spending; total income b. saving; total income c. saving; disposable income d. consumption spending; disposable income