Industries in which firms ________ are likely to contract in the long-run.
A. suffer losses
B. break even
C. have positive profits
D. have no competition
Answer: A
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Public saving equals taxes minus government spending minus transfer payments
Indicate whether the statement is true or false
Milton Friedman's theory of the demand for money
A) is similar to Tobin's portfolio approach to the demand for money. B) includes permanent income as one of the significant variables. C) includes the yields on competing nonmonetary assets. D) All of the above.
Income has risen in the simple Keynesian model. This could be the result of:,
a. an equal increase in government spending and taxes. b. an increase in unplanned investment. c. an increase in taxes d. a decrease in autonomous consumption. e. none of the above
Personal income is
A) equal to GDP. B) that portion of national income that can be used for consumption and saving. C) the sum of all payments to suppliers of the factors of production. D) the amount of income that individuals actually receive. E) another term for disposable income.