An increase in national income could by caused by which of the following?
A) an increase in depreciation
B) an increase in personal taxes
C) a decrease in personal income
D) an increase in gross domestic product
Answer: D
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During 2014, the country of Economia had a real GDP of $115 billion and the population was 0.9 billion. In 2013, real GDP was 105 billion and the population was 0.85 billion. In 2013, real GDP per person was
A) $128. B) $124. C) $135. D) $117.
Figure 9-1
?
In Figure 9-1, the economy is
A. experiencing an inflationary gap, shown by the horizontal distance EB. B. at full employment without inflation. C. experiencing a recessionary gap, shown by the horizontal distance EB. D. experiencing a recessionary gap, shown by the distance between EF.
A consumption function is used to illustrate the choices a consumer faces in a world of scarcity
a. True b. False Indicate whether the statement is true or false
Figure 4-21
Which price in Figure 4-21 is equilibrium?
a.
P1
b.
P2
c.
P3