If interest rates are raised
A. people are not affected by interest rates being raised: only when interest rates are lowered.
B. entrepreneurs are more likely to expand a business by borrowing money.
C. people are less likely to save their money in banks.
D. entrepreneurs are less likely to borrow money and expand their businesses.
Answer: D
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The output of U.S. citizens who work in Canada would be included in the
A) gross domestic product of the United States. B) gross domestic product of Canada. C) gross national product of Canada. D) gross national product of Canada and the gross national product of the United States.
As real GDP per year increases along the short-run aggregate supply (SRAS) curve, the SRAS curve
A) becomes increasingly steep. B) begins to level out. C) shifts inward. D) does not change.
Refer to the above table. Based on the information in the table, we can say that
A) all three goods are substitutes for each other. B) all three goods are complements. C) X and Y are substitutes, Y and Z are complements, and X and Z are substitutes. D) X and Y are complements, Y and Z are substitutes, and X and Z are complements.
Transfer payments ___ counted in GDP. Also, they ___ a payment for a good or service the government received.
A. are, are B. are, are not C. are not, are D. are not, are not