On-budget expenditures:
What will be an ideal response?
all federal expenditures that rely on general tax revenue subject to congressional approval each year
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Over time, the price of personal computers has fallen dramatically. All else constant, this would lead us to expect that demand for personal computers has become more price elastic
Indicate whether the statement is true or false
The net investment income from abroad is U.S. investment earnings from foreign assets minus what?
a. foreigners earnings from their U.S. assets b. foreigners earnings from investments at home c. U.S. investors stock market earnings d. U.S. bondholders earnings from interest abroad
Refer to Figure 2-11. What is the opportunity cost of producing 1 pound of cashews in Indonesia?
A) 3/8 of a bolt of cotton B) 5/8 of a bolt of cotton C) 2 2/3 bolts of cotton D) 320 bolts of cotton
The expenditure approach to GDP accounting includes:
a. consumption b. investment. c. net exports. d. all of the above.