Equilibrium GDP occurs when total spending equals total output
a. True
b. False
Indicate whether the statement is true or false
True
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Legislators facing a close electoral contest will tend to favor
A) policies with benefits greater than costs for everyone. B) policies with benefits greater than costs for the majority. C) policies with benefits in the near future and deferred costs. D) policies representing the public interest.
It required less labor time to buy a college education in 1995 than it did in 1965.
Answer the following statement true (T) or false (F)
A person receives a paper asset from a corporation that is a promise from the corporation to repay a loan at a fixed rate of interest. This type of asset is referred to as a:
A. share. B. bond. C. stock. D. bank loan.
Refer to the above figure. For which Lorenz curve does the richest 25 percent make 50 percent of the nation's money income?
A. A B. B C. C D. D