Assume the multiplier is 5 and that the crowding-out effect is $30 billion. An increase in government purchases of $20 billion will shift the aggregate-demand curve to the

The mean wage for workers aged 16 to 19 was over $7 per hour in 2005

Indicate whether the statement is true or false

The value of a model is determined by

A) the usefulness of its predictions in the real world. B) the extent of the profit earned by applying it. C) the realism of its assumptions. D) the model's attention to real world details.