If the economy produces full employment output, an increase in government spending increases output but not the price level.
Answer the following statement true (T) or false (F)
False
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A person remodeling her house could obtain a loan from a
A) sales finance company. B) consumer finance company. C) business finance company. D) public finance company.
What is the real GDP in year 2 using base year 2?
A) $418. B) $300. C) $360. D) $338.
Which of the following would generate positive externalities?
a. flu vaccinations b. pesticides used to create greater yields per bushel c. cigarette smoking in elevators d. litter left at the beach e. an unkempt front yard
Economists make a distinction between changes in quantity demanded and changes in demand:
A. Because the supply curve shifts whenever there is a change in demand. B. Because the demand curve shifts whenever there is a change in quantity demanded. C. To distinguish a movement along a demand curve from a shift of the demand curve. D. To distinguish a surplus from a shortage.