Which of the following is assumed constant along the demand curve for gasoline?
a. the price of gasoline and the prices of related goods
b. the price of gasoline, buyers' incomes, and tastes
c. all variables affecting demand other than the price of gasoline
d. all variables affecting demand other than the supply of gasoline
e. buyers' incomes and tastes, but not the prices of related goods
C
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When government outlays are less than tax revenues, the government has
A) a budget with a negative debt. B) a budget deficit. C) a budget with a positive balance. D) an illegal budget because outlays must exceed tax revenues. E) a budget surplus.
If MPC = 0.9, equilibrium real GDP is $1,000 . and full-employment real GDP is $2,000 . then how much should government spending change to bring about full employment?
a. +1,000. b. ?100. c. +900. d. +100. e. ?0.9.