For a closed economy with no government, we know that at every level of GDP actual investment equals
A. the difference between planned saving and actual saving.
B. planned saving.
C. the difference between planned investment and actual saving.
D. planned investment.
Answer: C
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An individual's value for a good or service is the
a. The amount of money he or she used to pay for a good b. The amount of money he or she is willing to pay for it c. The amount of money he or she has to spend on goods d. None of the above
Research has shown that voters are more likely to turn out in elections with ________ electorates and when the election is likely to be ____________.
A. small; very competitive B. large; very competitive C. small; not very competitive D. large; not very competitive
The primary difference between a proprietorship and partnership form of business organization is
a. the proprietorship is subject to unlimited liability, and a partnership is subject to limited liability b. the proprietorship is primarily international, and the partnership is primarily multinational c. the number of persons involved in the ownership and management of the enterprise d. the proprietorship produces products, and the partnership produces services e. the proprietorship finances expansion through the issue of stocks, and the partnership relies on bonds
If the marginal propensity to consume decreases, the marginal propensity to save decreases
a. True b. False Indicate whether the statement is true or false