Note: Amounts in billions.Refer to the above table. When real GDP equals $12 billion
A. unplanned inventories will decrease.
B. unplanned inventories will increase.
C. the economy is in equilibrium.
D. government expenditures will increase.
Answer: A
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The above table gives data for the nation of Mouseville. There are no imports into or exports from Mouseville. The equilibrium level of real GDP is
A) $700 billion. B) $500 billion. C) $800 billion. D) $900 billion. E) $100 billion.
If a theatre company expects $250,000 in ticket revenue from five performances and $288,000 in ticket revenue if it adds a sixth performance, the
A) company will be making a loss on the sixth performance because its ticket sales will be less than the average revenue received from the previous five. B) marginal revenue of the sixth performance is $38,000. C) marginal revenue of the sixth performance is $288,000. D) cost of staging the sixth performance is probably higher than the cost of staging the previous five.