Say's law states that
A. desired expenditures will equal actual expenditures.
B. demand is always less than supply.
C. people produce only the goods they want.
D. overproduction is never possible because of limited resources.
Answer: A
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What would happen to the value of the dollar if prices in the U.S. increased more rapidly relative to prices in other countries?
What will be an ideal response?
The inauguration of a new President often increases the degree of optimism in foreign business firms and foreign households, causing net exports to
A) decrease and IS to shift right. B) decrease and IS to shift left. C) increase and IS to shift right. D) increase and IS to shift left.
Disposable income represents ________
A) the income received by firms, e.g. corporations B) an increase in GDP C) a decrease in GDP D) the after-tax income received by the household
When there is positive inflation,
A) growth in nominal GDP exceeds growth in real GDP. B) growth in real GDP exceeds growth in nominal GDP. C) growth in real GDP and nominal GDP are roughly equal. D) there can never be any growth in nominal GDP.