Refer to Table 10.1. Suppose that all of the information given in the Table remains the same except that taxes increase by $1.0 billion and transfers increase by $1.5 billion. Equilibrium real GDP for this economy is equal to
A) $6.25 billion.
B) $17 billion.
C) $25 billion.
D) $47 billion.
C
Economics
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Using the table above, the number of people in the labor force is
A) 165 million. B) 175 million. C) 195 million. D) 185 million. E) 145 million.
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A perfectly competitive firm produces so that its marginal cost equals the price
Indicate whether the statement is true or false
Economics