In national income accounting, (S + T) is
A) the portion of total income not consumed.
B) net national product.
C) the methods of financing the government deficit.
D) the final output firms absorb as investment.
A
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Basic attributes of a society that permit citizens to trust in the functioning of its institutions are best summarized as
a. governance b. social capital c. shared growth d. developmental state e. all of the above
We are given the individual demand curves for all of the people that consume Good Y. Which statement is TRUE about the market demand curve for Good Y?
A) The market demand curve is obtained by horizontally summing the individual demand curves. B) The market demand curve is obtained by vertically summing the individual demand curves. C) The market demand curve cannot be obtained because information on prices is missing. D) The market demand curve cannot be obtained from individual demand curves.
The stock of unused goods held by a firm is called a(n):
a. depreciation. b. supplement. c. deadweight loss. d. excess capacity. e. inventory.
Refer to Figure 14.2. A movement from point d to point a could be caused by a simultaneous ________ and ________.
A. decrease in the money supply; increase in the price of oil B. increase in the money supply; massive crop failure C. decrease in taxes; decrease in the money supply D. decrease in government spending; decrease in the price of oil