The components of consumption expenditures include all of the following except
A) nondurable goods consumption.
B) durable goods consumption.
C) government consumption.
D) services.
C
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Suppose that a country with a closed economy opens itself to international trade and becomes a net exporter. In that case, domestic suppliers will supply ________ of that good after it opens itself to international trade.
A. same amount B. less C. more D. none
Items subtracted from tax liability are called _____
a. tax credits b. tax deductions c. tax exemptions d. tax exclusions
If a change in the price of a good causes no change in total revenue
a. the demand for the good must be elastic. b. the demand for the good must be inelastic. c. the demand for the good must be unit elastic. d. buyers must not respond very much to a change in price.
Which one of the following is in M2, but not in M1?
A. Currency B. Checking deposits C. Small denomination time deposits D. Travelers checks