Which of the following represents total saving for an economy?
A) the sum of private saving and fixed investment
B) the sum of private saving and consumption
C) the sum of taxes and government spending
D) the excess of taxes over government spending
E) none of the above
E
You might also like to view...
Between 1865 and 1914, individuals in households could use the income they did not spend to do what?
(a) Purchase stocks (b) Buy bonds (c) Place money in savings accounts (d) All of the above
The backward bending supply curve for labor is
a. not valid for individuals b. valid only for aggregate labor markets c. the result of purchasing power effects that outweigh the relative price changes for leisure d. has to do with lack of firm interest in high-cost labor e. describes a relationship between population and labor quantities
In 1968, the government instituted a 26 percent income tax surcharge. In terms of the AS/AD model, this change should have:
A. shifted the AD curve to the right. B. shifted the AD curve to the left. C. made the AD curve steeper. D. made the AD curve flatter.
An increase in total revenue results from which of the following?
A. Price decreases when demand is inelastic. B. Price increases when demand is elastic. C. Price decreases when demand is elastic. D. Price increases when demand is unitary elastic.