Which of the following professionals is likely to receive higher compensatory wages?
a. Financial accountants
b. Software engineers
c. Sales workers
d. Share traders
e. Tailors
c
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Assuming that the government can act immediately before the multiplier takes effect, then to offset an increase in investment by $1 billion, government purchases must be:
A. decreased by $2 billion. B. increased by $1 billion. C. decreased by $1 billion. D. decreased by $0.5 billion.
When market price is higher than the equilibrium price, a surplus is created. This will put downward pressure on price, causing quantity demanded to increase and quantity supplied to decrease until equilibrium is reestablished
Indicate whether the statement is true or false
For the economy as a whole: a. income must equal expenditures
b. expenditures exceed income because of taxes. c. income exceeds expenditures because of saving. d. expenditures exceed income because of the government budget deficit.
Durable goods are expected to last for at least 10 years.
Answer the following statement true (T) or false (F)