For most macroeconomists
A) gross national income and gross national product are the same.
B) gross national income exceeds gross national product.
C) gross national product exceeds gross national product.
D) it is hard to tell whether gross national income equal gross national product.
E) gross national product is much more important than gross national income.
A
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There is evidence that the presence of unions in a labor market:
A. can push wages up for non-union wage earners in the same market. B. can keep wages low for non-union wage earners in the same market. C. has no effect on the wages of non-union wage earners in the same market. D. has an identical effect on the wages of union and non-union wage earners in the same market.
If Americans expect the dollar price of the British pound to rise, this expectation will cause
a. a rightward movement along the U.S. demand curve for pounds b. a leftward shift of the U.S. demand curve for pounds c. a rightward shift the U.S. demand curve for pounds d. a leftward movement along the U.S. demand curve for pounds e. no change in the U.S. demand curve for pounds
Which are contractionary fiscal policies?
a. Increased taxation and decreased government spending b. Increased taxation and increased government spending c. No change in taxation and increased government spending d. Decreased taxation and no change in government spending
Recall the Application about the incentives to install rooftop solar panels to answer the following question(s).According to the Application, another factor that was responsible for solar power deployment was the rising price of electricity. The increase in sales due to higher electricity prices describes the economic concept of:
A. using assumptions to simplify. B. ceteris paribus. C. rational self-interest. D. marginal thinking.