GDP per capita:
A. tells us how much is produced per person in an economy.
B. paints a clearer picture of how thin the output is spread across a population.
C. is calculated by dividing GDP by the population size of the economy.
D. All of these statements are true.
Answer: D
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A weakening in consumer confidence causes a
A) shift of the aggregate demand curve to the right. B) movement down along the aggregate demand curve. C) shift of the aggregate demand curve to the left. D) movement up along the aggregate demand curve.
In Figure 17-3 above, suppose we are working under the assumption of the Lucas model. It is the year of the presidential election, and fiscal policy becomes more expansionary
If every firm is convinced that its price increase is being duplicated across the economy, we would picture this as a movement between points A) A and C. B) A and B. C) D and B. D) D and A. E) A and D.