Which of the following equals demand in a closed economy?
A) C + I + G + X
B) C + I + G + X - IM
C) C + I + G + IM - X
D) none of the above
D
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The classical growth theory asserts that
A) population growth leads to more growth in technology. B) population growth will lead to people earning only a subsistence level of income. C) economic growth will continue indefinitely. D) economic growth and population growth complement each other. E) population growth increases a nation's economic growth.
Under which of the following circumstances might a gallon of water be more valuable than a flawless one carat diamond? a. At a diamond shop next door to a clean public drinking fountain
b. At a diamond shop next door to a typical grocery store selling bottled water. c. In any U.S. city with safe, clean drinking water. d. In a life raft with 8 passengers who have been adrift on a remote part of the Pacific Ocean for a week with few prospects of an immediate rescue.
Which statement is true?
A. Private business firms are illegal in China. B. In China today, there is strict adherence to the communist credo, "From each according to his ability, to each according to his needs." C. Major economic reforms in China in the late 1970s and early 1980s created a much more market oriented economy than a centrally planned one. D. None of the statements are true.
Suppose that a large group of local merchants donate 10,000 "3-R Dollars" to local schools, a colorful local currency that the schools can spend at a wide variety of participating local stores as a perfect substitute for dollars, now or in the future. So, 3-R dollars meet the requirements of money
Indicate whether the statement is true or false