Journey Motorcycles produced 100 motorcycles using 50 workers who each worked 8 hours a day. Journey's productivity was 1/4

The long-run effect of increasing government budget deficits

A) is a redistribution of real GDP from privately provided goods to government provided goods. B) is no impact on equilibrium real GDP. C) is to increase of price level. D) all of the above.

Answer the following statement(s) true (T) or false (F)

1. Theories and models make unrealistic assumptions. 2. An economic hypothesis makes a summary of behavior. 3. Empirical analysis is the use of data to test a hypothesis. 4. Looking at the behaviors of a large group allows economists to discern general patterns of actions.