GDP in an economy is $11,050 billion. Consumer expenditures are $7,735 billion, government purchases are $1,989 billion, and gross investment is $1,410 billion. Net exports are:
a. - $84 billion
b. - $161 billion
c. + $53 billion
d. - $47 billion
a. - $84 billion
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If the government were to simultaneously cut the personal income tax and the corporate profits tax, the equilibrium interest rate
A) would fall. B) would rise. C) would be unaffected. D) might either rise or fall.
The optimal level of pollution is:
a. the level at which the marginal social cost of air quality equals the marginal social benefit. b. the level at which the average social cost of air quality equals the average social benefit. c. the level at which the total social cost of air quality equals the total social benefit. d. zero.
Linda earns an income of $3,000 per month. She saves 10 percent and spends the remainder on food, lodging, and other expenses. So far, she has managed to save $20,000. What is her consumption per month?
What will be an ideal response?
Specialized investments:
A. cause managers to shirk. B. are equally valuable in any productive use. C. result in relationship-specific exchange. D. make spot exchange efficient.