The thought behind Say’s law is that each time a good or service is produced and sold, it generates _______________ that is earned for someone else.
a. debt
b. utility
c. goodwill
d. income
d. income
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John derives more utility from having $1,000 than from having $100. From this, we can conclude that John
A) is risk averse. B) is risk loving. C) is risk neutral. D) has a positive marginal utility of wealth.
Between 1981 and 1986, as the federal budget deficit increased,
a. consumption spending fell. b. investment spending was crowded out. c. net exports increased. d. net exports were crowded out.
Suppose the real exchange rate of 105 Japanese yen to the dollar changes to 115 yen to the dollar. In this situation, the dollar has _________________, making Japanese goods __________ expensive for Americans
A) appreciated; less B) appreciated; more C) depreciated; less D) depreciated; more
If a foreign car manufacturer builds a plant in the United States, the new plant will
A. decrease U.S. GDP by the amount produced because of foreign ownership. B. have no effect on U.S. GDP because it is a foreign company. C. increase U.S. GDP by the amount produced. D. increase U.S. GDP by the net exports of the company.