Expenditures on U.S. produced steaks, shoes, and doctor visits are most likely classified as
A) net imports of goods and services.
B) investment.
C) government expenditure on goods and services.
D) net exports of goods and services.
E) consumption expenditure.
E
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The strength of the movement in the short-run aggregate supply schedule, in response to an aggregate demand shock is determined by ________
A) the price elasticity of demand B) the credibility of the monetary authorities C) the underlying state of the economy D) the choice of nominal anchors
Which category includes the largest number of firms?
a. sole proprietorship b. partnership c. corporation d. S-corporation e. limited partnerships
Social motives include all of the following EXCEPT:
A. altruism. B. fairness. C. the desire to create a favorable impression. D. risk aversion.
Federal, state, and local taxes
A. have been falling as a share of GDP since the 1970s. B. have been increasing as a share of GDP since the 1970s. C. are about a quarter of GDP. D. are about one-third of GDP.