Suppose the following information describes the economy:Consumption8000Investment1,000Government purchases1,000Net exports0Government transfers and interest payments500Government tax collections1,700Private saving equals ________; public saving equals ________; national saving equals ________.
A. 1,000; 800; 1,000
B. 800; 200; 600
C. 1,500; 700; 2,700
D. 800; 200; 1,000
Answer: D
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The New Deal was carried out during the administration of President
A. Herbert Hoover. B. Franklin Roosevelt. C. Harry Truman. D. Dwight Eisenhower.
If the demand for a product rises and the supply stays the same
A) the market clearing price will fall and the equilibrium quantity will rise. B) the market clearing price will rise and the equilibrium quantity will fall. C) both the market clearing price and the equilibrium quantity will fall. D) both the market clearing price and the equilibrium quantity will rise.
Implicit cost involves a direct cash payment for the use of a resource
a. True b. False
One of the main conclusions of Keynes in The General Theory of Employment, Interest, and Money is that the economy
A. will usually be at full employment. B. will not automatically gravitate to full employment. C. will automatically move quickly toward full employment without inflation. D. is usually on the verge of a major depression or hyperinflation.