On average across the world, the underground economy is worth about:
A. one-half of GDP.
B. one-tenth of GDP.
C. one-quarter of GDP.
D. one-third of GDP.
Answer: D
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When you use currency to buy lunch, money is performing which function?
A) store of value B) medium of exchange C) barter token D) unit of purchase E) unit of currency
A change in expectations in the new classical model
a. shifts the aggregate supply curve. b. must reflect a change in the anticipated changes in the economy. c. shifts the aggregate demand curve. d. both a and b. e. none of the above.
On-the-job experience causes labor productivity to increase through an improvement in human capital
a. True b. False Indicate whether the statement is true or false
In the circular flow model, which of the following is considered a leakage?
a. investment spending b. business spending c. household saving d. total exports