In 2014, remittances was over:
A. $60 Billion.
B. $500 Million.
C. $590 Billion.
D. $1 Trillion.
A. $60 Billion.
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Suppose water rates in Podunk rise by 100%. The water consumption in Podunk will tend to
A) remain unchanged, because water is a necessity of life. B) decrease substantially overnight. C) decrease more substantially over time, as residents discover substitutes for water. D) decrease, and therefore lead to a lower price of water.
The unemployment rate is found by dividing the number of unemployed people by the
A) number of working individuals, and multiplying by 100. B) number of the working-age population, and multiplying by 100. C) sum of working individuals plus unemployed workers, and multiplying by 100. D) number in the labor force, and dividing by 100.
Goods that have been produced but not yet sold are referred to as
A) capital goods. B) inventories. C) understocks. D) pre-sold goods.
Answer the following statements true (T) or false (F)
1. The aggregate demand curve is the sum of individual demand curves in the economy. 2. Aggregate demand curves tend to be very flat. 3. Higher prices reduce the purchasing power of financial assets owned by households. 4. Net exports are excluded in the calculation of the national income. 5. As disposable income increases, the total amount of planned consumption increases.