Households, firms, and government purchase from the goods-and-services market.
Answer the following statement true (T) or false (F)
False
You might also like to view...
The table below represents five points on the production possibility frontier for the small country of Bistro, which produces only crackers (measured in thousands of boxes) and cheese (measured in thousands of pounds): A B C D E Crackers 40 30
20 10 0 Cheese 0 5 10 15 20 Does the production possibility frontier demonstrate the law of increasing opportunity cost? How can you tell?
The two main types of economies generating current account surpluses from 2000 to 2007 were Asian exporters and oil producers
Indicate whether the statement is true or false
The "nonconvergence" problem with the Solow growth model is that
A) a higher return to capital in poor countries should essentially cause all nations to have roughly the same standard of living, yet they clearly do not. B) if a disturbance dislodges an economy from the steady-state point, it continues moving further from that point indefinitely. C) technological change is assumed to just "drop from the sky." D) a rise in the rate of national saving does not raise the growth rate of real GDP per person.
If the velocity of money is completely insensitive to changes in the rate of interest, the
A) LM curve will be horizontal. B) LM curve will be vertical. C) IS curve will be horizontal. D) IS curve will be vertical.