If total consumption is $5 billion, investments $2 billion, government purchases $1 billion, exports $1 billion, and imports $3 billion, the GDP must equal:
A. $6 billion.
B. $12 billion.
C. $9 billion.
D. $3 billion.
A. $6 billion.
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Channeling funds to individuals with productive investment opportunities is the function of ________
A) the financial sector B) state and local governments C) the central bank D) state, local and federal governments
GDP per capita can be summarized to be:
A. a measure of average well-being in a country. B. the best measure of well-being for all citizens inside a country C. a gauge of the direction an economy when we examine GDP changes over one year. D. the measure of value of all activity inside a national economy.
Which two of the Ten Principles of Economics are illustrated in this chapter?
a. A country's standard of living depends on its ability to produce goods & People face tradeoffs. b. Prices rise when the government prints too much money & Governments can sometimes improve market outcomes. c. Governments can sometimes improve market outcomes & People face tradeoffs. d. People face tradeoffs & Prices rise when the government prints too much money .
The labor force participation rate of women in the United States has been
a. increasing for several decades and this has strongly affected GDP. b. decreasing for the past several decades after increasing dramatically in the early 1900s. c. approximately constant during the last three decades. d. decreasing since the early 1900s.