The following national income data are in billions of dollars
Refer to the above data. Disposable income in this economy is:
A.
$611 billion
B.
$659 billion
C.
$667 billion
D.
$686 billion
A.
$611 billion
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Fiat money has
A) little to no intrinsic value but is backed by the quantity of gold held by the central bank. B) little to no intrinsic value and is authorized by the central bank or governmental body. C) value, because it can be redeemed for gold by the central bank. D) a great intrinsic value that is independent of its use as money.
Increases in the quantity of money can start a ________ inflation and an increase in government expenditure can start a ________ inflation
A) demand-pull; cost-push B) cost-push; cost-push C) cost-push; demand-pull D) demand-pull; demand-pull E) None of the above is correct because increases in the quantity of money are necessary to continue an inflation but cannot start an inflation.
The equilibrium price and quantity of a good under perfect competition are determined:
A) by the intersection of the market demand and total revenue curves. B) by the intersection of the total revenue and total cost curves. C) by the intersection of the market demand and market supply curves. D) by the intersection of the market supply and total revenue curves.
Which of the following would be entered as a credit in the financial account of the United States?
a. Purchase of U.S. Treasury bonds by Americans b. Purchase of U.S. Treasury bonds by foreigners c. Purchase of U.S. made cars by foreigners d. Income earned by the U.S. from tourism e. Purchase of foreign stocks by U.S. investors