Which is not considered a need?
a. food
b. clothing
c. shelter
d. smartphone
Ans: d. smartphone
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Refer to the table above. If there is no statistical discrepancy, the official settlement account balance equals
A) +$200 billion. B) -$20 billion. C) zero D) +$220 billion. E) +$20 billion.
Why has the federal government generally run budget deficits over the past several decades?
A) Political pressures make expenditures hard to control. B) The federal government's control of the money supply enables it to borrow indefinitely without becoming unable to find creditors. C) The public has accepted the notion that budget deficits can be good for the economy. D) A combination of the three factors mentioned above.
An increase in the price level results in a(n) ________ in the quantity of real GDP demanded because ________
A) decrease; a higher price level increases consumption, investment, and net exports. B) increase; a higher price level increases consumption, investment, and net exports. C) decrease; a higher price level reduces consumption, investment, and net exports. D) increase; a higher price level reduces consumption, investment, and net exports.
Goods like Wi-Fi networks that are nonrival but excludable are known as:
A. collective goods. B. private goods. C. commons goods. D. pure public goods.