In a closed economy, national savings is:
A. the sum of the savings of individuals and corporations plus the savings of the government.
B. the sum of public savings plus private savings.
C. equal to national investment.
D. All of these are true.
D. All of these are true.
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In the short run ________
A) the more flexible wages and prices are, the more inflation responds to the output gap B) the more sticky wages and prices are, the more difficult to tell the difference between the short run and long run aggregate supply curves C) if wages and prices are sticky, aggregate output is always at its potential level D) all of the above E) none of the above
Which of the following is the best example of a natural monopoly?
a. gold mining in the Colorado Rocky Mountains b. filmmaking in Hollywood c. electrical service to homes in Seattle d. production of film by Kodak e. production of computers by IBM
A human resource such as ingenuity can be thought of as
A. a causal factor for aggregate supply shifting left. B. part of a country's endowment. C. the outcome of more investment spending. D. part of government spending programs.
Suppose that Mexico devalues the peso. What objectives would prompt the devaluation? Be specific.
What will be an ideal response?