Each of the following is one of the four main categories of spending identified by John Maynard Keynes except
A) taxes. B) net exports.
C) government purchases. D) consumption.
A
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Use the concept of present value to explain the inverse relationship between the interest rate and the amount of investment a firm undertakes
What will be an ideal response?
The United States has developed a comparative advantage in digital computers, airliners, and many prescription drugs. The source of its comparative advantage in these products is
A) a strong central government. B) abundant supplies of natural resources. C) a favorable climate. D) technology.
If a nation's Lorenz curve lies on the 45 degree line of income equality, then
A) more of the nation's income is received by the lowest 20 percent of families than by the highest 20 percent. B) income is unequally distributed. C) more of the nation's income is received by the highest 20 percent of families than by the lowest percent. D) the income received by each 20 percent of families is 20 percent of the total income.
The price elasticity of new automobile purchases is about 1.2 . This implies that an increase of $1,000 on a $10,000 automobile will
a. reduce the number of autos sold by approximately 1.2 percent. b. increase the consumer expenditures on autos by approximately 1.2 percent. c. reduce the number of autos sold by approximately 12 percent. d. increase consumer expenditures on autos by approximately 12 percent.