Injections:
a) Decrease aggregate demand
b) Always equal savings
c) Always equal national income
d) Include investment and export spending
Answer: d) Include investment and export spendin
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According to the Heckscher-Ohlin model:
a. a relatively labor scarce country produces labor intensive goods. b. the labor productivity varies across different countries. c. the technological advancement varies across countries. d. the taste and preference patterns of the consumers are not similar across the countries. e. a capital abundant country exports sophisticated, manufactured products.
Payments to individuals for which no current goods or services are exchanged are known as
A. AD shortfalls. B. AD excesses. C. Income transfers. D. Social Security payroll taxes.
Voluntary trade promotes economic progress because it
a. encourages individuals to become self-sufficient. b. benefits buyers at the expense of sellers. c. makes larger outputs possible as a result of specialization. d. moves goods, services and resources from people who value them more to individuals who value them less.
What does the ‘beta' of an asset measure?
A. How the nondiversifiable risk compares with diversifiable risk for an asset B. How the expected return compares with the diversifiable risk of a given asset C. How the expected return compares with the nondiversifiable risk of the market portfolio D. How the nondiversifiable risk of a given asset compares with that of the market portfolio