Ignoring any supply-side effects, if government expenditure on goods and services increase by $10 billion and taxes increase by $10 billion, then real GDP ________ and the price level ________

For a household in a (c,c') graph, the optimal consumption bundle is

A) to the left of the endowment point. B) to the right of the endowment point. C) on the endowment point. D) dependent on other factors.

The supply curve of books (which are produced using paper made from trees) will shift to the left in response to: a. a decline in college tuition

b. a sharp increase in the demand for and construction of wood-frame homes. c. an increase in the supply of lumberjacks. d. an end to government regulations that limit timber harvesting in national forests.