In the national income accounts, the symbol G represents the
a. government production of goods and services.
b. volume of goods and services purchased by the federal government.
c. value of goods and services purchased by the federal government.
d. value of goods and services purchased by all levels of government.
d
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Refer to Figure 13-1. Ceteris paribus, a decrease in the growth rate of domestic GDP relative to the growth rate of foreign GDP 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.
In the loanable funds market, if the government is running a deficit
a. it is a supplier of funds as it is taking in more than it is spending b. it is a demander of funds as it is taking in more than it is spending c. it is a supplier of funds as it is spending more than it is taking in d. it is neither be a supplier or demander e. it is a demander of funds as it is spending more than it is taking in.
A popular teacher hands out candy bars to her students as an incentive for good behavior. If students choose to, they could then trade one candy bar for a sheet of stickers or two candy bars to skip a quiz. In this classroom, the teacher is using candy bars as a form of:
a) barter. b) commodity money. c) fiat money. d) yummy money.
Assume a firm has fixed costs of $80 and variable costs as indicated in the table below. Complete the cost table
