1Policies designed to pay off the national debt will result in: 2 Given an open
ID: 2441523 • Letter: 1
Question
1Policies designed to pay off the national debt will result in:
2 Given an open economy multiplier of 4 and a marginal propensity to save of 0.15, a $200 million increase in income would cause consumers to increase their:
3 Comparative advantage in production is achieved by:
4 Suppose one U.S. dollar equals 0.6 euros and a car costs $10,000 to purchase in the U.S. What would be the selling price of that car in Germany, not including transportation costs?
5 To be eligible for Social Security benefits, a worker:
A A redistribution of income but not wealth.Explanation / Answer
Answer:
Answer: B. A smaller level of AD.
2. Given an open economy multiplier of 4 and a marginal propensity to save of 0.15, a $200 million increase in income would cause consumers to increase their:
answer: C. Domestic consumption by $30 million.
?
3. Comparative advantage in production is achieved by:
Answer: D. having a lower opportunity cost of producing a good relative to that of other countries.
4. Suppose one U.S. dollar equals 0.6 euros and a car costs $10,000 to purchase in the U.S. What would be the selling price of that car in Germany, not including transportation costs?
Answer: A. 6,000 euros.
$1 = 0.6 euros
$10,000 into euros in Germany
= $10,000*0.6 = 6,000 euros
5. To be eligible for Social Security benefits, a worker:
Answer: B. Has to have reached full retirement age.
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