T-accounts reflects double-entry bookkeeping that keeps income and production equal.
Answer the following statement true (T) or false (F)
True
The equality of income and production can be shown in T-accounts. For every entry on one side, there is an equal entry on the opposite side of the accounts.
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Natural monopolies result from ________.
A. control over an essential natural resource B. pricing strategies C. patents and copyrights D. extensive economies of scale in production
If planned aggregate expenditure equals GDP, the economy is in macroeconomic equilibrium
Indicate whether the statement is true or false
The process of a government intervening to maintain the value of their exchange rate after shock to their economy is known as
A) sterilization. B) preventative therapy. C) beggar-thy-neighbor policies. D) the liquidity effect.
The slope of the output per worker function is equal to the
A) marginal product of capital. B) marginal product of labor. C) savings rate. D) growth rate of the population.