This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Refer to Table 16-1. Consider the hypothetical information in the table above for potential real ... (Read 85 times)

cmoore54

  • Hero Member
  • *****
  • Posts: 568
on: Jun 29, 2018
Refer to Table 16-1. Consider the hypothetical information in the table above for potential real GDP, real GDP, and the price level in 2016 and in 2017 if Congress and the president do not use fiscal policy.
 
  If Congress and the president want to keep real GDP at its potential level in 2017, they should
  A) decrease government purchases. B) decrease income taxes.
  C) increase the level of interest rates. D) decrease the money supply.

Question 2

Critically evaluate the following statement. Only poor nations face scarcity. Rich nations have everything they need and have therefore conquered scarcity.
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

diesoon

  • Sr. Member
  • ****
  • Posts: 353
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

Rich nations simply face different choices than do poor nations. The existence of choices naturally presumes that there is scarcity. Since all resources are limited there is only so many goods and services that can be produced by any nation whether it is poor or rich.


cmoore54

  • Hero Member
  • *****
  • Posts: 568
Reply #2 on: Jun 29, 2018
Thank you :)


diesoon

  • Sr. Member
  • ****
  • Posts: 353
Reply #3 on: Jun 29, 2018
Happy to help you


« previous next »
 

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

The average older adult in the United States takes five prescription drugs per day. Half of these drugs contain a sedative. Alcohol should therefore be avoided by most senior citizens because of the dangerous interactions between alcohol and sedatives.

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

A hypothetical example of the bottleneck effect. A hypothetical example of the bottleneck effect.
The recent mass upheavals in Tunisia, Egypt, Libya, Yemen, and Syria gave political scientists a cha The recent mass upheavals in Tunisia, Egypt, Libya, Yemen, and Syria gave political scientists a cha
Specific Drugs and their Potential for Dependence Specific Drugs and their Potential for Dependence
Knead the calf muscles with both hands. Place the foot flat on the table, knee bent. Reach behind ... Knead the calf muscles with both hands. Place the foot flat on the table, knee bent. Reach behind ...
The voltage-gated channel cycles during an action potential The voltage-gated channel cycles during an action potential
The Ames test, which screens compounds for potential mutagenicity The Ames test, which screens compounds for potential mutagenicity
Video: The Krebs Cycle Animation

For a complete list of videos, visit our video library