A kinked demand curve is associated with
a. tit-for-tat behavior
b. a dominant firm
c. a discontinuous marginal revenue curve
d. extreme marginalism
e. price leadership
C
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If the output gap is greater than zero, real GDP is ________ potential GDP, and the economy will ________ to reach full employment
A) greater than; expand B) greater than; contract C) less than; expand D) less than; contract
In 2013, the U.S. spent more on research and development than any other country in the world
a. True b. False Indicate whether the statement is true or false
The total income of the country is
A. personal income. B. production income. C. national income. D. net national product.
Revenue and expenditure items in the federal budget that automatically change with the economy in such a way as to make GDP less stable are known as
A. line-item shocks. B. automatic destabilizing policies. C. eradication enhancers. D. crowding-out imbalancers.