Government purchases in national income accounts would include expenditures for payments of:
A. public assistance for military veterans.
B. salaries for current U.S. military officers.
C. Social Security checks to retirees.
D. public assistance for welfare recipients.
Answer: B
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Which of the following is part of M2?
A) checks B) credit cards C) currency held inside a bank D) none of these are part of M1 or M2
Natural monopolies have U-shaped cost curves.
A. True B. False C. Uncertain
Gross private domestic investment in the United States consists of three components:
a. stocks, bonds, and mutual funds. b. automobiles, trucks, and houses. c. plant, equipment, & software, houses, and inventories. d. plant, equipment, & software, houses, and net exports.
A change in the quantity demanded of Real GDP is graphically represented as a
A) shift in the AD curve. B) movement from one point on the AD curve to another point on the same curve. C) movement from a point on the AD curve to a point on the SRAS curve. D) shift in the real balance effect curve. E) shift in the interest rate effect curve.