Transfer payments are included in government budgets as spending, but are not included in the government purchases category of GDP
a. True
b. False
A
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An increase in the relative price of a good cannot be caused by
A) an increase in the nominal price of the good that is greater than the increase in the nominal price of the other good. B) a decrease in the nominal price of the good that is less than the decrease in the nominal price of the other good. C) a decrease in the nominal price of the other good while the price of the good itself remains constant. D) an increase in the nominal price of the other good while the price of the good itself remains constant.
International financial flows have changed in meaningful ways, and these changes were brought to the attention of policy makers by the Asian financial crisis. Describe three changes
What will be an ideal response?
In a perfectly competitive market, firms are not restricted from entering or leaving an industry in response to profits or losses
Indicate whether the statement is true or false
Janelle earned a salary of $62,000 in 2004 and $80,000 in 2014 . The consumer price index was 126 in 2004 and 170 in 2014 . Janelle's 2004 salary in 2014 dollars is
a. $45,953. b. $89,280. c. $107,953. d. $83,651.