Which of the following is not a reason why government may play a key role in the early stage of economic development in developing nations?
A. The infrastructure provided by government
B. The abundance of entrepreneurs who need to be regulated
C. The need to encourage saving and investment in the economy
D. The provision of law and order so that commerce can flourish
B. The abundance of entrepreneurs who need to be regulated
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City streets, sewage systems, and police protection are all examples of:
A. public goods. B. private goods. C. exclusive goods. D. rival goods.
The equation of exchange states that:
A. money supply multiplied by real output equals velocity. B. velocity multiplied by money supply equals the selling price times the quantity of actual output. C. money supply divided by velocity equals nominal GDP. D. money supply divided by velocity equals real GDP.
________: the value of food expenditures contributed by firms beyond the farm gate
Fill in the blank(s) with correct word
The MPC is
A. the change in saving divided by the change in income. B. the change in consumption divided by the change in income. C. consumption divided by income. D. the change in consumption divided by the change in saving.