question archive (1)If Real GDP is $6 billion and the population is 180,002, per-capita Real GDP isGroup of answer choices$30,000
(1)If Real GDP is $6 billion and the population is 180,002, per-capita Real GDP isGroup of answer choices$30,000
Subject:EconomicsPrice: Bought3
(1)If Real GDP is $6 billion and the population is 180,002, per-capita Real GDP isGroup of answer choices$30,000.
$20,000.
$33,333.
$39,434.
(2)
Suppose that for a given good demand increases and supply increases at the same time. If demand increases by a lesser amount than supply increases, then equilibrium price __________ and equilibrium quantity __________ for that good.
Group of answer choices
rises; falls
falls; falls
rises; rises
falls; rises
(3)
Other things being the same, which of the following would cause the aggregate demand curve to shift to the left?
Group of answer choices
lower personal taxes
?a rise in consumer confidence
?reduced stock market wealth
?an increase in transfer payments
(4)
If some nonprice level determinant causes total spending to increase, then the effect on aggregate demand will be a:
Group of answer choices
?movement upward along the curve.
?movement downward along the curve.
?shift to the left.
(5)
Within the aggregate demand and supply model (AD-AS model), if an unanticipated expansion in aggregate demand results in an equilibrium output level above its full-employment level,
Group of answer choices
the natural rate of unemployment will increase.
long-run aggregate supply will decrease.
lower resource prices and declining interest rates will direct the economy back to full employment.
higher resource prices and rising interest rates will direct the economy back to full employment.
(6)
Other things being equal, what would happen to aggregate demand if the federal government decreased military purchases and state and local governments increased their road building budgets at the same time?
Group of answer choices
?aggregate demand (AD) would increase, because only federal government purchases affect AD.
?aggregate demand (AD) would decrease, because only state and local government purchases affect AD.
?aggregate demand (AD) would increase if the change in federal purchases were smaller than the change in state and local purchases.
?aggregate demand (AD) would decrease if the change in federal purchases was smaller than the change in state and local purchases.
(7)
Which of the following would be most likely to cause an increase in current aggregate demand in the United States?
Group of answer choices
Decreased business optimism about the future.
The economies of key trading partners fall into a recession.
A sharp decrease in the value of stocks owned by Americans.
An increase in the expected rate of inflation.
(8)
Which of the following would cause prices to fall and real GDP to rise in the short run?
Group of answer choices
an increase in workers' wage rate
a decrease in the capital stock
an increase in the quantity of labor available
a higher interest rate.
(9)
Investment will increase if business taxes ____, real interest rates ____, or if business confidence ____.
Group of answer choices
?increase, increases, increases
?decrease, decrease, decreases
?increase, increases, decreases
?decrease, decrease, increases
(10)
Given a constant rate of growth of real GDP, what would cause a fall in real GDP per capita?
Group of answer choices
?a rate of population growth that is less than the rate of growth of real GDP
?a rate of population growth that is greater than the rate of growth of real GDP
?an increase in the size of the labor force
?an overall decrease in population
(11)
Technological advances make it possible to
Group of answer choices
produce goods without using any resources.
obtain the same output by using more resources.
obtain the same output by using fewer resources.
lower labor productivity.
(12)
In the supply-and-demand diagram of the market for peanut butter, the equilibrium point has moved down and to the right. What could have caused this?
Group of answer choices
a fall in the price of peanuts
a rise in the price of peanuts
a rise in income, assuming that peanut butter is an inferior good
a shift in preferences toward peanut butter
