The United States is a major exporter of
a. diamonds
b. bauxite
c. coffee
d. corn
e. gold
D
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In a closed economy, aggregate demand is the sum of
A) consumer expenditure, actual investment spending, and government spending. B) consumer expenditure, planned investment spending, and government spending. C) consumer expenditure, actual investment spending, government spending, and net exports. D) consumer expenditure, planned investment spending, government spending, and net exports.
Attempts to use activist policies to stabilize the economy can be counter-productive: a. If policy makers do not correctly estimate the natural rate of real output. b. If policy makers misestimate the lags involved in the process
c. If policy makers forecast inaccurately. d. In all of the above cases.
When a profit-maximizing firm in a competitive market has zero economic profit, accounting profit
a. is negative. b. is at least zero. c. is also zero. d. could be positive, negative or zero.
Utilitarianism is a type of
a. consequentialism b. relativism c. deontological ethics d. egoism