Refer to the graph above for a private closed economy. At the $150-billion level of GDP:
A. Aggregate expenditures are less than real GDP, so GDP will rise
B. Aggregate expenditures are more than real GDP, so GDP will fall
C. Aggregate expenditures are more than real GDP, so GDP will rise
D. Aggregate expenditures will be equal to GDP, so there will be no change in GDP
C. Aggregate expenditures are more than real GDP, so GDP will rise
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Which of the following is NOT an example of a way in which microeconomic analysis can help in designing environmental policy?
A) Determining the optimal level of vehicle fuel efficiency standards B) Designing laws to provide incentives for firms to implement clean technologies in new vehicles C) Lobbying consumers and firms to reduce consumption of energy D) Examining the tradeoffs between ecological benefits of environmental legislation and its impacts on consumers' standard of living
Holding other things constant, an increase in the inflation rate in the US compared to China may cause the demand for dollar to _____________ and the supply for dollar to __________
a. Increase; decrease b. Increase, increase c. Decrease; Increase d. Decrease; Decrease