Government can raise GDP by $1,000 billion by:
a. raising government purchases
b. reducing taxes
c. increasing transfer payments
d. All of the above.
d
You might also like to view...
What is the drawback of a bidder bidding up to his or her willingness to pay for a good in a Dutch auction?
What will be an ideal response?
Consider the production possibilities frontier displayed in the figure shown. A society faced with this curve could choose to produce:
A. A, B, or D.
B. A, B, or C.
C. A, D, or C.
D. B, C, or D.
Consider an economy made up of 100 people, 60 of whom hold jobs, 10 of whom are looking for work, and 15 of whom are retired. The number of people in the civilian labor force is
a. 30. b. 60. c. 85. d. 90. e. 70.
In a market economy, who or what determines who produces each good and how much is produced?
a. the government b. lawyers c. lotteries d. prices