The largest income component in the national income accounts is
A. wages.
B. rents.
C. corporate profits.
D. interest.
Answer: A
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Which of the following macroeconomic variables is the most seasonally procyclical?
A) Expenditure on services B) The unemployment rate C) Expenditure on durable goods D) The real wage
Because of the rise of global competition and free trade,
a. antitrust policy may be less necessary than previously thought. b. U.S. industrial concentration poses more of a threat to consumers. c. U.S. markets are becoming less competitive. d. U.S. manufacturers are seeking fewer trade barriers.
A shortage results from a current price being below the equilibrium price.
a. true b. false
Which sector of our economy accounts for the largest percentage to total spending?
A. businesses B. exports C. households D. government