Recessionary output gap - Study guides, Class notes & Summaries

An economy that contains both perfect and imperfect competition and both regulated and nonregulated industries is known as - answer-mixed economy An economys production possibilities curve could shift outward as a result of an - answer-increased level of technology which one of the following is a charecteristic of capitalism but not of communism? - answer-private property Full employment describes the condition in which - answer-95 to 96 percent of the civilian labor force is employed ...

Real wages fall. Productivity increases. Personal income taxes increase. Transfer payments decrease. A major hurricane hits the southeastern United States. Score: 3 of 3 21. If Congress cuts personal income taxes and business taxes at the same time, then aggregate demand, short-run aggregate supply, and price level will change in which of the following ways: AD / SRAS / Price Level Increase / No Change / Increase No Change / Increase / Increase Increase / ...

Principles of Macroeconomics Question & Answers A budget constraint can be written as a - ANSWER: line: Budget = (Good1$ x QuantityOfGood1) + (Good2$ x QuantityOfGood2) a country's currency is overvalued if - ANSWER: the exchange rate is above equilibrium A decrease in government spending will have what effect in the short term? - ANSWER: Decreasing nominal interest rates. A decrease in what could cause a decrease in real per capita income? - ANSWER: Output per unit of input A rise in a...

1. The largest source of revenue for the federal government is a. sales tax receipts b. individual income tax receipts c. corporate income tax receipts d. Social Security tax receipts 2. If the government enacts a tax on Uber corporate profits, which of the following is likely to occur? a. Uber riders will pay the tax in the form of higher fares. b. Uber drivers will pay the tax in the form of lower wages c. Uber shareholders will pay the tax in the form of reduced profit d. the tax w...

This document contains macroeconomics Homework (SSE 104 Homework 6) questions and answers. It was administered to students of LaGuardia Community College in New York.

c. Government spending d. Net exports e. Price level 2. List the determinants of short-run aggregate supply in the textbox below. (Check lesson 3.02 for help.) Answer – Determinants of aggregate supply are- a. Money supply b. Price level c. Production resources d. Technology e. Input prices 3. For the question below, write an explanation of the short-run effect (including the determinant of AD or AS that is causing the shift, the line that shifts (AD or AS), the direction of the ...

Democratic Government - Rule by the people, whether directly or through representatives Monarchial Government - Rule by one undivided, sovereignty, or rule of a single person (Mono); The term applies to states ruled by a Monarch, an individual ruler who functions as the head of state and who achieves this position through heredity Theocratic Government - Rule by a Deity (Theo), whether directly or through religious representatives Oligarchic Government - A form of government in which al...

Which of the following statements is the most appropriate description of gross domestic product (GDP)? The total income earned by all households, firms, and the government whose value can be verified. The total amount spent on all final goods and services produced within the economy over a given time period. The total market value of resalable and final goods and services produced within the economy over a given time period. correct answer- B is correct. GDP is the total amount spent on ...