All other things equal, the real surplus:
A. is not affected by inflation.
B. rises as inflation increases.
C. falls as inflation increases.
D. may rise or fall as inflation increases depending on the level of debt.
Answer: B
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Other things constant, if domestic consumers purchase fewer foreign goods at each level of GDP, in the short run
A. foreign countries' GDP will rise. B. GDP will fall. C. GDP will rise. D. there will be no change in GDP in this country.
What is the term economists use to discuss cost on a per-unit-of-output basis?
a. short-run cost b. fixed cost c. variable margin cost d. average total cost
Desired national saving equals
A. Id + G. B. Cd + Id + G. C. Y - Id - G. D. Y - Cd - G.
A physical book that sells new for $100 will rent for around
A. $100. B. $75. C. $25. D. $50.