The overall effect of accounting for purchases of foreign goods in GDP reduces GDP
a. True
b. False
Indicate whether the statement is true or false
False
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In 2016, national defense accounted for almost _____ of federal outlays
a. 25 percent b. 15 percent c. 40 percent d. 54 percent e. 60 percent
Marginal product in the short run:
A. increases at all levels of production. B. diminishes at all levels of production. C. may initially increase, then eventually decrease. D. may initially decrease, then eventually increase.
The total level of all planned expenditures in the economy best describes
A. the total amount of household wealth. B. long-run aggregate supply. C. aggregate demand. D. short-run aggregate supply
Establishing a list of favored customers is an alternative rationing mechanism to price rationing.
Answer the following statement true (T) or false (F)