The United States
A. has sometimes attained productive efficiency.
B. usually attains productive efficiency.
C. never attained productive efficiency.
A. has sometimes attained productive efficiency.
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Profit is the excess of revenue over and above payment for
a. wages. b. rent. c. interest. d. all costs of production.
Assuming no change in the effective tax rate on capital, a decrease in the government budget deficit will reduce the current account deficit if and only if the decrease in the budget deficit
A) reduces desired national saving. B) increases desired national saving. C) reduces desired national investment. D) increases desired national investment.
The most important determinant of the level of consumption is
A. credit availability. B. the level of disposable income. C. the stock of liquid assets in the hands of consumers. D. consumer expectations.
The duration of a recession is measured from:
A. trough to peak. B. peak to trough. C. trough to trough. D. peak to peak.