National income minus personal taxes net of transfer payments equals disposable income.
Answer the following statement true (T) or false (F)
True
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Indicate whether each of the following transactions represents the purchase of a final good
1. The purchase of tires from Bridgestone by an automobile manufacturer? 2. The purchase of two new elementary school buildings by the state government? 3. The purchase of french wine by a US consumer? 4. The purchase of a new machine tool by the Ford Motor company?
If government expenditures are increased by $50 billion, assuming all other factors stay constant, we would expect the initial impact of the increased spending to cause real GDP to
A. increase by $50 billion. B. stay constant. C. increase by less than $50 billion. D. increase by more than $50 billion.
Refer to Figure 13-1. Ceteris paribus, an increase in the price level would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
If a panic causes Indian depositors to withdraw their money from Japanese banks, it would cause the Japanese Yen to depreciate, since the supply of Yen has________
a. Not changed b. Decreased c. Increased d. None of the above