Which of the following is a category of national income?
A) net interest B) rental income C) corporate profits D) all of the above
D
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The currency created by the European Monetary Union, for which notes and coins became available in 2002, is the
A) ECU. B) euro. C) EMU. D) pound.
If the government spends exactly what it receives in taxes during a given interval, then the result is
A) a balanced budget. B) the gross public debt. C) the net public debt. D) a government budget deficit.
Uncoordinated decisions in perfect competition lead to mass confusion and inefficiency
a. True b. False Indicate whether the statement is true or false
During the past 200 years, income per person has
a. increased in the developed countries of Western Europe and North America, but declined in the rest of the world. b. declined in the developed countries of Western Europe and North America, but increased in the rest of the world. c. increased far more rapidly in both developed and less developed countries than during the centuries prior to 1800. d. Increased far less rapidly in both developed and less developed countries than during the centuries prior to 1800.