An economy is employing 2 units of capital, 5 units of raw materials, and 8 units of labor to produce its total output of 28 units. Each unit of capital costs $4; each unit of raw materials, $4; and each unit of labor, $3. The per-unit cost of production in this economy is? Indicate to the nearest tenth of a dollar (e.g., 5.2).

The public debt for the economy is? Public Debt 2024.JPG  

What entity is responsible to advise the U.S. President about fiscal policy options?

If we have a fixed price level and the marginal propensity to consume is 0.8, and the GDP gap is 100, to get to full employment, the government should increase expenditures by how much? Indicate to the nearest whole number. 

If there is full employment and the government brings in more in taxes than it spends

Built-in stabilizers are an example of __________ fiscal policy.

In which graph do we see an increase in the productivity of our resources? Exam 3 four graphs(1).PNG 

If government purchases = 30, personal consumption expenditures = 95, gross private domestic investment = 20, consumption of fixed assets = 5, imports = 8, and exports = 12, what is net domestic product? 

Suppose that a person’s nominal income rises from $11,000 to $13,000 and the Consumer Price Index rises from 100 to 105. The person’s real income will increase by about what percent? Indicate as a whole number, rounding up or down to the nearest whole percentage (e.g., 10).

Assuming the total population is 100 million, the civilian labor force is 70 million, and 63 million workers are employed, what is the unemployment rate in percent? Indicate to the nearest tenth of a percent (e.g., 8.5).