The GDP equation is
A) Y = C - I - G - NX. B) Y = C + I + G + NX.
C) C + I = G + NX. D) C + I = Y + G + NX.
B
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Suppose that the required reserve ratio is 20 percent and you deposit $50,000 of currency into Comerica Bank. What is the potential increase in deposits in the banking system brought about by your deposit? What is the potential change in the money supply?
What will be an ideal response?
The dollar sum of costs that an insured individual must pay before the insurer begins to pay would be considered:
A. Copayments B. Play-or-pay C. Fee for service D. Deductibles
Explain why the deadweight loss from monopoly power may be exacerbated if the barrier to entry that creates monopoly power is created through exclusive government granting of a monopoly. For what types of government grants of monopoly power might this not be the case?
What will be an ideal response?
Many economic variables are classified according to their relation to the business cycle. What are the principal categories? Variables in which category(ies) are of greatest help in forecasting changes in the economy?
What will be an ideal response?