A $50 billion increase in both government spending and taxes will
A) increase GDP by less than $50 billion. B) not change the level of GDP.
C) increase GDP by $50 billion. D) increase GDP by more than $50 billion.
C
Economics
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Xenonia and Baltonia are two neighboring countries. Xenonia can either produce 300 pounds of rice or 100 bushels of corn in a year while Baltonia can either produce 500 pounds of rice or 200 bushels of corn
Can mutually profitable trade take place between the two countries? Explain your answer.
Economics
The marginal product of labor is calculated using the formula
A) ?Q/?L. B) Q/L. C) L/Q. D) ?L/?Q.
Economics