Andrew has the utility of wealth curve shown in the above figure. He owns an SUV worth $30,000, and that is his only wealth. There is a 10 percent chance that he will have an accident within a year. If he does have an accident, his SUV is worthless

The equilibrium level of real GDP is $1,000 . the target level of real GDP is $1,250, and the marginal propensity to consume (MPC) is 0.60 . The target can be reached if government spending is:

a. increased by $60 billion. b. increased by $100 billion. c. increased by $250 billion. d. held constant.

The most important economic concept to consider when deciding whether to build your own deck or hire it done is

A. law of supply. B. specialization. C. opportunity cost. D. law of increasing cost.