One problem with revenue-based incentive schemes is they do NOT provide an incentive to:
A. maximize productivity.
B. minimize costs.
C. maximize sales.
D. maximize profit.
Answer: B
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The table contains data for a hypothetical single-product economy. Nominal GDP in year 3 is
A. $100. B. $225. C. $450. D. $150.
The critical factor in maintaining the value of the dollar is
A) confidence the supply of dollars will be limited. B) government budget deficits. C) government budget surpluses. D) the U.S. balance of international payments. E) vigorous economic competition.
Assume that consumption spending is equal to $600, government spending is $100 billion, and GDP is $800 billion. If net exports are equal to zero, investment spending must be
A) $700 billion. B) $600 billion. C) $500 billion. D) $100 billion.
If the public switches from using cash for most transactions to using checks instead, then all else equal, the money supply will:
A. either increase or decrease. B. decrease. C. increase. D. not change.