The U.S. personal saving rate ________
A) is much higher than the percentage the Chinese citizens save
B) is higher than the saving rate of most countries
C) cannot fall below zero
D) increased by a factor of five every year since the 1970s
E) none of the above
E
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The amount by which an aggregate expenditures schedule must shift upward to achieve the full-employment real GDP is a(n)
A. recessionary expenditure gap. B. negative net export gap. C. expenditure multiplier gap. D. inflationary expenditure gap.
Harry's Hookahs incurs $700,000 per year in explicit costs and $500,000 in implicit costs. The company earns $1.4 million in revenues and has $3.7 million in net worth. Based on this information, what is the economic profit for Harry's Hookas?
A) $200,000 B) $700,000 C) $900,000 D) $1.1 million
If the fractional reserve system were to cease to exist, the banking system would be able to create money
Indicate whether the statement is true or false
In Monetarist theory, the role of the government should be to:
a. Control prices. b. Seek to raise productivity by setting up and enforcing fair rules of behavior, encouraging competitive markets, imposing reasonable taxes, and creating stable and predictable political environments. c. Do everything in its power to promote exports. d. All of the above. e. None of the above.