From a macroeconomic perspective, the problem of low household saving has probably been overstated because:
A. household saving has been increasing steadily over the last three decades.
B. it is national saving, not household saving, that allows an economy to accumulate new capital.
C. household saving is not related at all to an economy's ability to accumulate new capital.
D. household saving represents a smaller share of national saving than does public saving.
Answer: B
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If potential GDP increases, then in the figure above the potential GDP line ________, and the aggregate supply curve ________
A) does not shift; does not shift B) shifts rightward; does not shift C) does not shift; shifts rightward D) shifts rightward; shifts rightward E) shifts rightward; shifts leftward
If the demand for a product increases and the supply of the same product increases, the equilibrium price will increase
Indicate whether the statement is true or false
The expenditure method of measuring GDP is calculated by adding up: a. the final goods and services produced domestically during a given period
b. C + I + G + (X M). c. domestic production of final goods and services for consumers, firms, government, and the international sector (through net exports). d. all of the above.
The following data about a hypothetical economy are in billions of dollars.
A.
+$150 billion
B.
-$20 billion
C.
+$20 billion
D.
-$65 billion