An increase in taxes will increase total planned expenditures for goods and services
Indicate whether the statement is true or false
FALSE
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The nominal GDP of the U.S. in 2015 was approximately $17.3 trillion. This means that
A) total income in 2015 was around $17.3 trillion. B) total spending in 2015 was around $17.3 trillion. C) the value of output in 2015 was around $17.3 trillion. D) all of the above are true.
Each Federal Reserve district bank is a corporation owned by
a. the member banks in the district. b. the people of the United States. c. the U.S. Department of the Treasury. d. federal securities owners.
In the product market, who is making the payments?
a. households b. firms c. governments d. producers
Ceteris paribus means
A. other variables are held constant. B. perhaps. C. only if everything works just right. D. almost certainly.