Net interest is the interest paid out by US households and government minus the interest income they received
Indicate whether the statement is true or false
False
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Assume the price of pizza decreases. As a result, your real income increases and you increase the quantity of pizza purchased each month. This is an example of the:
a. substitution effect. b. income effect. c. revenue effect. d. consumer price effect.
If the short-run aggregate supply curve is positively sloped and the Fed increases the money supply, aggregate demand: a. falls, which increases real GDP and the price level
b. increases, which decreases real GDP and the price level. c. falls, which decreases real GDP and increases the price level. d. increases, which decreases real GDP and increases the price level. e. increases, which increases real GDP and the price level.
What does job specialization do?
a. It allows workers to focus on the parts of the production process where they have an advantage. b. It allows workers to focus on all aspects of the production process. c. It allows organizations to maximize the tasks in which workers perform. d. It allows the production process to be performed by a single worker.
Which of the following is not an example of a capital input?
a. A person's skills and abilities, which can be employed to produce valuable goods and services. b. Tools and equipment. c. Factories and offices where goods and services are produced. d. Computers used by a company to record inventory, sales, and payroll.