The equilibrium level of national income occurs where
a. Y = C + S
b. C + Ii = C + S
c. Y = C + S + I
d. C + Ii = S
e. Y = C + S + Ii
B
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Under the Bretton Woods system of fixed exchange rates, the price of the U.S. dollar was fixed in terms of gold and the prices of all other currencies were fixed in terms of dollars.
Answer the following statement true (T) or false (F)
If the economy is characterized by increasing returns to scale, then a
A) doubling of inputs will lead to a more than two-fold increase in output. B) doubling of inputs will lead to a constant output. C) doubling of inputs will lead to a two-fold increase in output. D) doubling of inputs will lead to a less than two-fold increase in output.
Sharon wants a career as an accountant. During the summer she turns down a job painting houses at $6 an hour to work in an accounting office for $4 an hour. Which of the following would not explain her choice?
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You withdraw 100$ form your checking account. How does this affect the money supply and the reserves of your bank?
What will be an ideal response?