The best measure of the income households actually have available to spend is
A) personal income.
B) disposable personal income.
C) national income.
D) net national income.
Answer: B
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To an economist, total costs include
A) explicit, but not implicit costs. B) implicit, but not explicit costs. C) explicit and implicit costs. D) neither explicit nor implicit costs.
Between 1993 and 2001 the U.S. economy experienced
a. relatively low inflation and unemployment rates. b. relatively high inflation and unemployment rates. c. relatively low inflation rates and relatively high unemployment rates. d. relatively high inflation rates and relatively low unemployment rates.
If planned investment does not fall when the interest rate rises, there will be
A) a slight crowding-out effect. B) a substantial crowding-out effect. C) no crowding-out effect. D) a complete crowding-out effect.
Which of the following correctly describes a foreign exchange market?
a. A place where foreign goods are bought and sold in any country b. A market in which foreign tourists can buy domestic goods c. A global market in which people exchange one currency for another d. A place where contracts to deliver agricultural products across countries are exchanged e. A market where the central banks of different countries exchange government bonds