A U.S. family flies from Boston to Shanghai on a China Airlines plane. This transaction is
A. considered an export of service in the U.S balance of payment accounts.
B. a deficit item in the balance of payment accounts of China.
C. Both of these are correct.
D. none of these.
Answer: D
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The table below shows the consumption schedule for a hypothetical economy. All figures are in billions of dollars.RGDPConsumption$600$590610598620606630614640622650630660638If investments were fixed at $16, taxes were zero, government purchases of goods and services were zero, and net exports were zero, then equilibrium real GDP would be $630 initially. If government purchases were then raised from $0 to $10 and lump-sum taxes also increased from $0 to $10, other things constant, the equilibrium real GDP would become
A. $630. B. $650. C. $660. D. $640.
A university's football stadium is never more than half-full during football games. This indicates
a. the ticket price is above the equilibrium price.
b. the ticket price is below the equilibrium price.
c. the ticket price is at the equilibrium price.
d. nothing about the equilibrium price.
Assume there is no government or foreign sector. If the multiplier is 2, a $20 billion increase in planned investment will cause aggregate output to increase by
A. $5 billion. B. $10 billion. C. $20 billion. D. $40 billion.
Government-led antitrust actions are far more common than private antitrust cases.
Answer the following statement true (T) or false (F)