Table 5.2National Income Accounts (dollar figures are in billions)Expenditures for consumer goods and services$2,850Exports$300Government purchases of goods and services$810Social Security taxes$295Net investment$510Indirect business taxes$445Imports$450Gross investment$700Corporate income taxes$190Personal income taxes$875Corporate retained earnings$210Net foreign factor income$0Government transfer payments to households$780Net interest payments to households$20On the basis of Table 5.2, national income is
A. $3,785 billion.
B. $4,020 billion.
C. $3,595 billion.
D. $2,475 billion.
Answer: B
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Glendale Medical Care and Research Center? (GMCRC) offers advanced scientific treatment to the patients suffering from neurological cancer. The treatment plan offered by the hospital is relatively cost effective compared to similar treatments provided by the other medical centers.? However, the hospital management observes that the number of patients who receive neurological cancer treatment at GMCRC each quarter is much lower compared to the other hospitals. Which of the? following, if? true, would explain this? outcome?
A. GMCRC is the only hospital in the neighborhood that provides targeted therapy, in addition to radiation therapy and chemotherapy. B. Recent research on neurological cancer reveals that the incidence of this disease has increased during the last few years. C. GMCRC andother local hospitals tend to choose doctors from both international and national medical schools. D. The bulk of the treatment cost for neurological cancer is borne by the health insurance companies. E. Neurological cancer is not among the most common forms of cancer.
In 2012, real GDP in the United States was below potential GDP. This fact definitely means that
A) the unemployment rate was near 10 percent. B) the unemployment rate was above the natural unemployment rate. C) the economy was in an expansion. D) cyclical unemployment had been decreasing. E) frictional unemployment was negative.
An outward shift of an economy's production possibilities curve is not caused by:
A. an increase in capital. B. an increase in labor. C. an advance in technology. D. a decrease in unemployment.
To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.