In preparing their estimates of the stimulus package's effect on gdp, obama administration economists estimated a government purchases multiplier of 1.57. this indicates that a $1 billion increase in government purchases would increase equilibrium real gdp by

a) $1 billion
b) $10 billion
c) $100 billion
d) $157 billion

Mno corporation uses a job-order costing system with a predetermined overhead rate based on direct labor-hours. the company based its predetermined overhead rate for the current year on the following data: total estimated direct labor-hours 50,000 total estimated fixed manufacturing overhead cost $ 285,000 estimated variable manufacturing overhead per direct labor-hour $ 3.80 recently, job p123 was completed with the following characteristics: total actual direct labor-hours 20 direct materials $ 710 direct labor cost $ 500 the amount of overhead applied to job p123 is closest to: