The price that we observe in the market is
A) the law of demand.
B) a substitute.
C) the money price.
D) the relative price.
C
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The total resource cost of goods and services produced by the U.S. economy is known as
a. real GDP. b. personal income. c. national wealth. d. national income.
People in an open economy who wish to invest can either:
A. invest at home or abroad. B. buy stocks or bonds. C. buy financial assets or durable goods. D. invest in private companies or public companies.
Nominal GDP is proportional to money stock when
a. velocity of money is volatile. b. velocity of money is constant. c. there are major changes in the value of velocity of money. d. velocity of money is zero.
During recent Global Economic Crises, consumers' wealth in the U.S. declined as a result of all of the following EXCEPT
A) the stock market crash. B) pricking of the housing bubble. C) increased household borrowing. D) aggressive fiscal policy.