Projections of the deficit, surplus, and debt picture are
A. highly sensitive to changes in the economy.
B. usually accurate, as many as thirty years out.
C. rarely accurate, even year to year, and are highly sensitive to changes in the economy.
D. rarely accurate, even year to year.
Answer: C
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An economy produces only 500,000 tables valued at $100 each. Of these, 100,000 are sold to consumers, 200,000 are sold to businesses, 100,000 are sold to the government, and 50,000 are sold abroad. No tables are imported. At the end of the year, the table manufacturers hold the unsold tables in inventory. What is the value of the investment component of GDP?
A. $25 million B. $2 billion C. $10 million D. $20 million
If the average price of a car suddenly changes from $20,000 to $15,000, larger, more remote stores with lower prices are ________ to have a(n) ________ in the number of customers.
A) likely; increase B) not likely; change C) not likely; increase D) likely; decrease
In the above figure, through which range would the demand for this good be most inelastic?
A) A-B B) B-E C) E-F D) G-H
If the price level increased from 120 to 130, then what was the inflation rate?
a. 1.1 percent. b. 7.7 percent. c. 10.0 percent. d. 8.3 percent.