Households are said to have ________ wealth when the value of their assets is less than the debts they owe.
A. positive
B. negative
C. zero
D. undefinable
Answer: B
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Division of _______ is the way a good or service that is produced is divided into a number of tasks that are performed by different workers, instead of all the tasks being done by the same person.
a. resources b. labor c. money d. tasks
Suppose a country has a real growth rate of 3%. Government spending is 75 billion units of currency and its tax revenues are 60 billion units of currency. The current national debt is 300 billion units of currency. At what inflation rate will its debt-to-income ratio remain unchanged?
The net export component of aggregate demand is defined as U.S.
A. imports minus U.S. exports. B. imports plus U.S. exports. C. exports minus U.S. imports. D. exports minus taxes and customs duties.
Using Figure 8.2, a decrease in real output resulting from the profit effect would be depicted as a movement from point
A. A to point C. B. B to point C. C. B to point A. D. C to point B.