A nation can determine how close it is to the classical range by considering its:
a. Export position.
b. Net export position.
c. Capacity utilization index.
d. Exchange rate.
e. None of the above.
.C
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In the income-expenditure model, equilibrium output is the level of output at which the 45-degree line intersects the planned expenditures line. Explain why this output level is an equilibrium level
Illustrate your answer with a diagram of the income-expenditure model.
The demand for loanable funds curve illustrates
A) the quantity of loanable funds demanded at any given level of disposable income. B) how the quantity of loanable funds demanded changes when the people's expectations about their future income changes. C) how the quantity of loanable funds demanded changes when wealth changes. D) the quantity of loanable funds demanded at any given level of the real interest rate. E) the quantity of loanable funds supplied to the loanable funds market at any given level of disposable income.
The amount by which the federal government's annual revenues exceed its annual expenditures is the
A) federal debt. B) federal government budget deficit. C) federal government budget surplus. D) federal profit.
The statement "Unemployment should be below 6 percent" is
A) a positive statement. B) a normative statement. C) a prediction. D) an assumption.