What are two ways the government can use to maintain full employment in an open economy? Also give an example for each
What will be an ideal response?
There are two types of government policy, monetary and fiscal policy. Examples of monetary policy are changes in the money supply. Examples of fiscal policy are changes in government spending or taxes.
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The above table shows some national income accounting data for a nation. In this nation, gross domestic product is equal to ________ billion
A) $2,000 B) $2,300 C) $2,500 D) $2,800
Graphically, the presence of an external cost that is ignored by producers can be shown as
A) a market supply curve to the left of the market supply curve for where the producers have to pay for the external cost. B) a market supply curve to the right of the market supply curve for which the producers have to pay for the external cost. C) a market supply curve the same as the market supply curve for which the producers have to pay for the external cost. D) the absence of a market supply curve.