In the long run, a reduction in labor supply would cause output to ________ and the aggregate price level to ________

Refer to Table 11.1. What is the value of the marginal propensity to consume?

A) 0.15 B) 0.6 C) 0.75 D) 0.9

Which of the following would NOT be directly included in the U.S. GDP in 2010?

A) the purchase of a new home in Atlanta, Georgia in 2010 B) the market value of the jet fuel bought by Delta to use for its flights in 2010 C) the market value of restaurant meals sold in 2010 D) the value of the automobiles produced in 2010 at the Toyota plant located in Georgetown, Kentucky E) legal services provided to first time home buyers during 2010