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Answer the question on the basis of the following table that illustrates the multiplier process.  Refer to the given table. The change in income in round two will be:

Answer the question on the basis of the following information: Suppose 30 units of product A can be produced by employing just labor and capital in the four ways shown below. Assume the prices of labor and capital are $2 and $3 respectively.  Refer to the information. If the price of product A is $0.50, the firm will realize:

  Refer to the figures. As the economy moves from the very short run to the longer run, we would expect:

According to Emerson: “Want is a growing giant whom the coat of Have was never large enough to cover.” According to economists, “Want” exceeds “Have” because:

What is the difference between national income and personal income?

  Refer to the diagram, in which S1 and D1 represent the original supply and demand curves and S2 and D2 the new curves. In this market the indicated shift in supply may have been caused by:

An increase in the excise tax on cigarettes raises the price of cigarettes by shifting the:

  Refer to the figures. Which of the following events would most likely result in inflation?

If a competitive industry is neither expanding nor contracting, we would expect:

  Refer to the diagram. Arrows (1) and (2) represent: