The total income earned by residents of an economy is known as
A) private disposable income
B) gross national product
C) gross domestic product
D) national income
E) none of the above
B
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Billie's Billiard Barn has seen its business slow down ever since Patti's Ping Pong Parlour opened up across the street
Since the opening of Patti's Ping Pong Parlour, the opportunity cost of shooting pool at Billie's Billiard Barn has ________ for Billie's customers who also like to play ping pong. A) not changed. B) decreased. C) fallen to zero. D) increased.
When GDP decreases, consumption spending increases
a. True b. False Indicate whether the statement is true or false
Contractionary fiscal policy is deliberate government action to influence aggregate demand and the level of real GDP through:
A. expanding and contracting the money supply. B. encouraging business to expand or contract investment. C. regulating net exports. D. decreasing government spending or increasing taxes.
Recall the Application about how policymakers use stress tests to protect the financial system to answer the following question(s).According to this Application, after the financial crisis of 2008, former Treasury Secretary Timothy Geithner and his staff made a proposal that major banks and financial institutions be subjected to:
A. yearly audits. B. stress tests. C. regulation by Congress. D. None of these.