The four components of aggregate expenditure are
A. consumption, investment, government transfers, and net interest.
B. spending on durable goods, inventory investment, government debt, and net exports.
C. spending on domestic goods, domestic services, foreign goods, and foreign services.
D. consumption, investment, government purchases, and net exports.
Answer: D
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An income tax is defined as regressive if
a. the tax liability of those with higher incomes exceeds the tax liability of those with low incomes. b. the tax liability of those with higher incomes is less than the tax liability of those with low incomes. c. those with higher incomes pay a higher percentage of their incomes in taxes than those with low incomes. d. those with higher incomes pay a lower percentage of their incomes in taxes than those with low incomes.
Oil producers expect that oil prices next year will be lower than oil prices this year. As a result, oil producers are most likely to
A) place more oil on the market this year, thus shifting the present supply curve of oil rightward. B) hold some oil off the market this year, thus shifting the present supply curve of oil leftward. C) place more oil on the market this year, thus increasing the quantity supplied of oil at lower but not higher prices. D) hold some oil off the market this year, thus decreasing the quantity supplied of oil at lower but not higher prices.
Describe what the unemployment rate and the employment rate measure. If we were to sum the unemployment rate and the employment rate, would that sum be equal to one hundred percent? Explain why or why not
In a two-player simultaneous game where neither player has a dominant strategy,
A) there is never a Nash equilibrium B) there is only one Nash equilibrium C) the actual outcome can be unpredictable D) the actual outcome will not be a Nash equilibrium