If income is equal to total spending, then in a closed economy, it is equal to:
A. consumption plus investment spending.
B. savings minus investment.
C. consumption minus investment spending.
D. savings plus investment.
Answer: A
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A period in which the economy is growing at a rate significantly above normal is called a(n):
A. depression. B. recession. C. expansion. D. peak.
Discuss three ways in which U.S. banks can become involved in international banking
What will be an ideal response?
Which of the following statements applies to the classical system?
a. There is money wage inflexibility since full employment already existed b. A perfectly flexible money wage is not always a requirement for full employment c. Full employment was easily explained with downward money wage rigidity d. An imperfect market structure is requirement for full employment e. none of the above
When a park is funded by visitors but not by taxpayers in general,
a. there will be too few parks because most people will not pay to use a park. b. visitors will be better served because poor service would lead to reductions in revenues. c. park budgets will decline. d. park quality will decline.