If the MPC in an economy is 0.8, government could close a recessionary expenditure gap of $100 billion by cutting taxes by:

Refer to the scenario above. Which of the following will happen if Mike decides to mow his lawn by himself?

A) GDP will remain unchanged. B) Per capita income will increase. C) GDP will decrease. D) GDP will increase.

On average, persons with more education tend to draw Social Security benefits for a

a. longer period of time than average b. shorter period of time than average c. period of time that is comparable to the U.S. average d. longer period of time if they have a master's degree but a shorter period of time if they have a Ph.D.