Total spending on final goods and services in an economy must equal total:
A. investment.
B. revenues from all transactions.
C. profits.
D. production value.
Answer: D
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According to the economic analysis of democracy, citizens do not acquire sufficient information to vote intelligently because
A) money controls the media. B) private concerns matter more to them than public affairs. C) they are apathetic about government. D) they know their vote doesn't really matter. E) the country is a republic, not a democracy.
For superstar athletes
A) their entire earnings are economic rent. B) part of their earnings are economic rent. C) none of their earnings are economic rent since rent doesn't apply to labor. D) none of their earnings are economic rent since they will do some other work once they are too old to be an athlete.
Central banks can use _______________________ to reduce the quantity of money and loans in an economy.
a. closed market operations b. public market operations c. open market operations d. private market operations
Which of the following would not be considered part of fixed investment spending (I)?
A) Toyota buys a new robot for its automobile assembly line. B) Apple computer builds a new factory. C) Exxon increases its inventories of unsold gasoline. D) An accountant buys a newly built home for herself and her family. E) all of the above