In 2016 final sales equal $400 billion, and the change in business inventories is $100 billion. GDP in 2016 is
A. $100 billion.
B. $300 billion.
C. $400 billion.
D. $500 billion.
Answer: D
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The average fiscal burden on state and local government for each low-skilled immigrant household may be as high as:
A. $5,500 per household per year B. $9,200 per household per year C. $19,500 per household per year D. $31,600 per household per year
After a certain nation changed its policy from one that banned international trade in wheat to one that allowed international trade in wheat, the nation began importing wheat. As a result, total surplus in the wheat market increased by $10 million. Which of the following changes could have occurred as well?
a. The price of wheat in that nation increased with the adoption of the new policy. b. The domestic quantity of wheat supplied increased with the adoption of the new policy. c. Consumer surplus in the wheat market increased by $7 million and producer surplus in the wheat market increased by $3 million. d. Consumer surplus in the wheat market increased by $15 million and producer surplus in the wheat market decreased by $5 million.
The knowledge and skills possessed by the workforce is known as
A. The inequality trap. B. Human capital. C. Human finance. D. Investment capital.
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.