Transfer payments represent income that is not earned but received by individuals
a. True
b. False
Indicate whether the statement is true or false
True
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One of the primary determinants of planned real investment spending is the
A) rate of real government spending. B) rate of real saving. C) expectation of future profits. D) rate of real consumption spending.
The amount of gross investment in the economy depends on the
A) response of expected output to the error in estimating the past period's actual output. B) amount of the difference between the desired capital stock and last period's capital stock that can be put in place this period. C) fraction of the capital stock that is replaced each period. D) All of the above are correct.
A supply curve slopes downward because of the law of supply
a. True b. False Indicate whether the statement is true or false
One of the main reasons that Malthus' prediction of repeated wars and famines did not come true is
a. the government's intervention in the economy b. the implementation of an income tax to raise money for governmental spending c. increases in the supply of labor d. continuing technological change e. changes in planned investment spending