If net foreign factor income is zero and there are no statistical discrepancies, the sum of national income and the consumption of fixed capital equals:
A. disposable income.
B. personal income.
C. net domestic product.
D. gross domestic product.
D. gross domestic product.
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The long-run aggregate supply curve shows the
A) maximum GDP the nation will ever produce. B) full-employment level of real GDP. C) level of real GDP associated with a constant price level. D) level of output at which real GDP equals nominal GDP.
In the balance sheet for the FBN bank above, the entries are in millions of dollars. If the desired reserve ratio equals 10 percent, FBN Bank has excess reserves of
A) $280 million. B) $200 million. C) $360 million. D) $0.
In an efficient market, a scarce good generally has a ____ than a less-scarce good
a. higher price b. higher total utility to consumers c. more even distribution across income classes d. lower price in off-peak periods
The Internet was first developed in the
a. business sector. b. government sector. c. corporate sector. d. college dorm room of Bill Gates.