The threat of a Greek exit from the euro system
A. left Greek banks bankrupt.
B. led to the exit of Spain from the euro.
C. increased the viability of the Greek exit.
D. spurred economic activity in Greece.
Answer: A
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According to the income approach, the largest component of national income is:
a. government spending. b. proprietor's income. c. net interest. d. personal consumption expenditures. e. compensation of employees.
Which of the following was an important source of economic stability during the two decades following the recovery from the 1982 recession?
a. countercyclical fiscal policy instituted by Congress b. a substantial increase in government spending as a share of the economy c. monetary policy that kept the inflation rate low and relatively steady d. balanced federal budgets throughout the period
Which is a typical property of the production function?
A. constant returns to scale B. the MPL increases as capital input increases C. the MPK increases as the labor input increases D. all of the above
Refer to the information provided in Table 30.2 below to answer the question(s) that follow.
Table 30.2
Refer to Table 30.2. From 2016 to 2017 nominal wages
A. rise. B. fall. C. stay the same. D. rise then fall.