All the countries of the EU participate in the Schengen Agreement
Indicate whether the statement is true or false
FALSE
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The Fed raises the federal funds rate. Which of the following changes takes the longest time before it occurs?
A) Quantity of money decreases. B) Exchange rate rises. C) Supply of loanable funds decreases. D) Aggregate demand decreases. E) Short-term interest rates rise.
Which of the following will occur if a natural monopoly is broken into two smaller firms?
A. The price will drop. B. Industry output will increase. C. Production costs will increase. D. Industry output will decrease.
Costs that vary with each unit produced are called
a. variable costs b. semivariable costs c. fixed costs d. indirect costs e. hidden costs
Table 5.2National Income Accounts (dollar figures are in billions)Expenditures for consumer goods and services$2,850Exports$300Government purchases of goods and services$810Social Security taxes$295Net investment$510Indirect business taxes$445Imports$450Gross investment$700Corporate income taxes$190Personal income taxes$875Corporate retained earnings$210Net foreign factor income$0Government transfer payments to households$780Net interest payments to households$20On the basis of Table 5.2, GDP is
A. $4,400 billion. B. $4,210 billion. C. $4,020 billion. D. $2,090 billion.