Private saving is equal to:
A. income ? consumption.
B. income - consumption ? taxes.
C. income ? consumption ? government spending.
D. income ? consumption ? government spending ? taxes.
Ans: B. income - consumption ? taxes.
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Net unilateral transfers in the United States in 2009 averaged about ______ per US resident
a. $1250 b. $850 c. $520 d. $430 e. $210
The more money firms spend on R&D the faster the economy is expected to grow.
Answer the following statement true (T) or false (F)
If food is on the vertical axis and shelter on the horizontal axis, then the equation for the budget line can be expressed as
A. M/Ps = S. B. PsS + PfF = M. C. PsS + PfM = S. D. PsF + PfS = M.
In 1978, China was the world's 15th-largest economy. By 2011, China had:
A. the second-largest economy in the world. B. an economy worth about $11 trillion. C. the fourth-largest economy in the northern hemisphere D. a larger economy than Japan but smaller than Germany.