When total planned real expenditures change due to the changes in net exports, this is known as the
A. interest rate effect.
B. real-balance effect.
C. open economy effect.
D. aggregate balances effect.
Answer: C
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GDP does not count:
a. the estimated value of homemaker production. b. state and local government purchases. c. spending for new homes. d. changes in inventories.
Trade restrictions will stop foreign imports, which will increase American employment and protect American jobs. Most economists realize this argument is wrong. Can you explain why?
Investors considering switching capital assets may also consider the potential tax liability and decide not to switch. This is known as bracket creep.
A. True B. False C. Uncertain
Billionaires get most or all of their income from
A. wages and salaries. B. property. C. government transfer payments.