If consumption expenditures are $220 million, investment expenditures are $50 million, imports are $20 million, exports are $10 million, government spending on goods and services is $40 million, Social Security spending is $15 million, and sales of existing homes equals $50 million, then what is the measure of GDP?
A. GDP = $195 million
B. GDP = $300 million
C. GDP = $185 million
D. GDP = $225 million
Answer: B
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If the quantity of money demanded is greater than the quantity supplied, then in the short run the
A) demand for financial assets increases. B) price of financial assets rises. C) nominal interest rate rises. D) nominal interest rate falls. E) price level rises.
In the above figure, the firm will shut down if quantity falls below
A) A. B) B. C) C. D) D.
On the New York Stock Exchange, the specialist at a "post" acts as a(n)
A) broker. B) auctioneer. C) dealer. D) underwriter.
The market price system provides a highly efficient mechanism for disseminating information about relative scarcities of goods, services, labor, and financial capital.
Select whether the statement is true or false. A. True B. False