What is measured on the vertical axis of the aggregate demand graph?
A) unemployment B) nominal income C) the price level D) real GDP per year
C
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Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
Based on the above information, what is Willy's "expected loss" due to an accident?
Willy Wonka wants to avoid any accidents of the work floor of his chocolate factory. If an accident does occur, it would cost Willy $500,000 in damages. Also, the probability of an accident is 20%. Pr(Accident)=0.2Pr(Accident)=0.2 A. $20,000 B. $50,000 C. $100,000 D. $125,000
Since the early 1960s, the percentage of Americans who are obese;
a. has decreases due to the increased emphasis on physical fitness b. has decreased due to the increased emphasis of healthy diets c. has increased by more than double d. both a. and b.
A decrease in the price of domestically produced nuclear reactors will be reflected in
a. both the GDP deflator and the consumer price index. b. neither the GDP deflator nor the consumer price index. c. the GDP deflator but not in the consumer price index. d. the consumer price index but not in the GDP deflator.