Refer to the scenario above. Which of the following will happen if she sells it for $200, and the total cost incurred by her in making the dress was $150?
A) GDP will increase by $50. B) GDP will increase by $180.
C) Trade surplus will increase by $200. D) GDP will remain unchanged.
Sarah takes care of her son instead of sending him to a day care which charges $12,000 annually.
A
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When Ft McClellan closed down, the decline of production at the Fort fell by 500M. The economic impact on the area was even larger. Why was it larger?
a. people lost jobs at the fort, resulting in a loss of wages of 400M (Assume the MPC was 4/5) b. the military produced fewer high-tech goods in Calhoun County c. businesses located near to the Fort suffered losses in sales d. the positive impact on the environment of closing the Fort brought in many more tourism dollar than the loss of military jobs
If the structural deficit is $750 billion and the cyclical deficit is $150 billion, it follows that the __________ is __________ billion
A) public debt; $900 B) total budget deficit; $600 C) total budget deficit; $900 D) net public debt; $600 E) none of the above