The following table provides data for an economy in a certain year.Consumption expenditures50Imports40Government purchases of goods and services20Construction of new homes and apartments30Sales of existing homes and apartments40Exports50Government payments to retirees10Household purchases of durable goods20Beginning-of-year inventory10End-of-year inventory20Business fixed investment30Given the data in the table, compute the investment component of GDP.
A. 40
B. 60
C. 30
D. 70
Answer: D
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The elasticity of demand along the demand curve shown in the above figure is constant and equal to 1. Thus
A) area 0BCF equals area 0AGF. B) area 0BCF equals area FGDE. C) area 0BCF equals area 0ADE. D) area ABCG equals area 0AGF.
Discuss three ways in which U.S. banks can become involved in international banking
What will be an ideal response?
"No individual should have less than $20,000 income in the United States in 2010" is an example of
A) a normative statement. B) a positive statement. C) an illogical and refutable statement. D) a truism.
One reason stagflation is difficult to recover from is because:
A. wages are sticky downward. B. input prices increase with output prices. C. less output requires less inputs to be hired. D. prices tend to adjust more quickly downward than upward.