Refer to Table 19-30. Based on the table above, what is personal income for this economy?
A) $1,950 billion B) $2,030 billion C) $2,450 billion D) $5,130 billion
B
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Which of the following is not a component of the M1 money supply?
A) Cash in circulation B) Gold owned by the federal authorities C) Deposits in checking accounts D) Any issued traveler's checks
Suppose that Joan, the only consumer of pork, has a downward-sloping demand curve for pork and faces an upward-sloping supply curve. If her demand curve shifts out because she develops a craving for pork, then at the new equilibrium (everything else equal),
A. the price of pork relative to other goods will be higher than before. B. Joan’s marginal utility from every unit of pork she eats will be higher than before. C. Joan’s real income will be lower than before. D. All of the responses are correct.
The broadest measure of the aggregate price level is the
a. GDP deflator. b. consumer price index. c. producer price index. d. gross domestic product.
Jayden, a U.S. citizen, works only in Canada. The value that his labor contributes to U.S. output is
a. included in both U.S. GDP and U.S. GNP. b. included in U.S. GDP, but it is not included in U.S. GNP. c. included in U.S. GNP, but it is not included in U.S. GDP. d. included in neither U.S. GDP nor U.S. GNP.