ECON MICRO
5th Edition
ISBN: 9781337000536
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 2, Problem 3.8P
b)
To determine
Impact on
c)
To determine
Impact on PPF due to a decrease in the average age of retirement.
d)
To determine
Impact on PPF due the migration of skilled workers to other countries.
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QUESTION 86
Table 25-1
Output
Consumption
Investment
Net Exports
1,000
800
500
100
1,500
1,200
500
100
2,000
1,600
500
100
2,500
2,000
500
100
3,000
2,400
500
100
3,500
2,800
500
100
4,000
3,200
500
100
In Table 25-1, at output of 4,000, inventories are
a.
increasing by 200.
b.
decreasing by 200.
c.
increasing by 300.
d.
decreasing by 300.
QUESTION 19
Rachel, an Italian citizen, works only in Spain. The value she adds to production in Spain is included
in both Spanish GDP and Italian GDP
in neither Spanish GDP nor Italian GDP
in Italian GDP, but is not included in Spanish GDP
in Spanish GDP, but is not included in Italian GDP
a.
b.
с.
d.
O a
O b
O c
QUESTION 20
Table 2. Production of Country ABC
milk (in gallons)
Quantity
Pizza Pies
Price
Quantity
Price
2017
10
20
2
30
23
2.1
34
2018
12
26
2.15
37
2019
13
2.1
36
2020
13
23
Refer to Table 2. Using 2017 as the base year, the real GDP of 2018 is
$ 298
$ 347.40
20.
a.
b.
$ 57
С.
d.
$ 260
8.
Includes all income earned: wages, profits, rent, and profit income within an Economy.
Question 8 options:
Trade Balance
Net Income
Gross Domestic Product
National Income
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