What is the difference between aggregate expenditure and consumption spending?
What will be an ideal response?
Aggregate expenditure represents the total spending in the economy. Consumption spending is just one component of aggregate expenditure. The other components of aggregate expenditure are: planned investment, government purchases, and net exports.
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A ________ can price discriminate if, in part, it ________
A) natural monopoly; is the only seller of a good or service B) monopoly; can prevent resales of its product C) monopoly; is the only seller of a good or service D) perfectly competitive firm; can sell goods at a lower price than a monopoly E) perfectly competitive firm; changes from a price taker to a price maker
Which of the following is NOT part of M1?
A) credit cards B) checking accounts C) currency D) traveler's checks
Which of the following best describes the population and production/consumption of North America and the European Union?
a. North American and the European Union have about 70% of the world’s population and their combined economic statistics show that they produce and consume about 16% of the world’s GDP. b. North American and the European Union have about 80% of the world’s population and their combined economic statistics show that they produce and consume about 70% of the world’s GDP. c. North American and the European Union have about 16% of the world’s population and their combined economic statistics show that they produce and consume about 16% of the world’s GDP. d. North American and the European Union have about 9% of the world’s population and their combined economic statistics show that they produce and consume about 70% of the world’s GDP.
Which is the most accurate statement?
A. Fringe and sub-prime lending should be outlawed. B. Poor people cannot get loans in the United States. C. Payday lenders like the Military Financial Network make low interest loans to our military personnel. D. When poor people get personal loans, they usually pay much higher interest rates than the average American.