One of the limitations of aggregate accounting is that:
A. it doesn't take depreciation into account.
B. it measures market activity, not social welfare.
C. it includes market transactions that should be excluded.
D. there isn't enough data available in most developed countries to have national income accounts.
Answer: B
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Use the following graph showing the domestic demand and supply curves for a specific product in a hypothetical nation called Marketopia to answer the next question.
If the world price for this product is $2.00, then Marketopia will
A. import 200 units. B. import 400 units. C. export 200 units. D. export 400 units.
Refer to the scenario above. If Aqua Inc charges a price of $70 for each unit of Good A while Blu Corp . charges a price of $50, Blu Corp . will face a demand of ________ units
A) 1,000 B) 1,500 C) 2,000 D) 3,000
Which of the following is the largest component of the assets of the Federal Reserve?
a. U.S. Treasury deposits b. U.S. government securities c. Foreign exchange d. Time deposits e. Checkable deposits
The Social Security system in the United States today is
a. actuarially sound. b. composed of a private pension fund into which workers have paid and who will withdraw their invested funds upon retirement. c. currently in no danger of running out of money in the long run. d. no longer a "pay as you go" system.