Refer to the data. Consumption of fixed capital (private sector) is:
Answer the question on the basis of the following national income data. All figures are in billions of dollars.
A. $23.
B. $14.
C. $32.
D. $26.
A. $23.
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Monetarism is a school of thought put forth by Milton Friedman. He argued that the economy would most likely
A) be unstable. B) be at potential GDP. C) be above potential GDP. D) be below potential GDP.
Assume Qs represents the quantity supplied at a given price and Qd represents the quantity demanded at the same given price. Which of the following market conditions produce a downward movement of the price?
A. Qs = 1,000, Qd = 750. B. Qs = 750, Qd = 750. C. Qs = 750, Qd = 1,000. D. Qs = 1,000, Qd = 1,000.
Approximately what percentage of U.S. national income is paid to workers rather than to owners of capital and land?
a. 65 percent b. 25 percent c. 45 percent d. 85 percent
Use the above figure. The total revenue earned by this monopolistically competitive firm is
A. $480. B. $2,560. C. $1,600. D. $1,900.