In a closed economy, Y - C - G equals _____. The variable Y is _____, C is _____, and G is _____
Fill in the blank(s) with correct word
national saving/investment, output/GDP, consumption, government purchases
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Which of the following would be most likely to receive high economic rent payments?
A) farmer B) professional baseball player C) factory worker D) doctor
Since 1950, the balance of trade for United States has
A) gone from a surplus to a deficit. B) gone from a deficit to a surplus. C) remained constant. D) gone from a small deficit to a larger deficit.
When the market for a good is in equilibrium,
a. consumer surplus will equal producer surplus. b. the total value created for consumers will equal the total cost of production for business firms. c. all units valued more highly than the opportunity cost of production will be supplied. d. all units that have value will be produced, regardless of their cost of production.
Non-depository institutions would include all of the following except:
A. credit unions. B. pension funds. C. insurance companies. D. finance companies.