Given the following data, what is the distance from the origin to the point where the total expenditures (TE) curve cuts the vertical axis? C = $800 + 0.85Yd I = $350 G = $420
A) $1,570
B) $1,150
C) $1,220
D) $770
E) ?$1,220.85
A
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The services British capital provides in Spain are a service export from Britain
A) therefore they are subtracted from British GDP in calculating British GNP. B) therefore they are added to Spanish GDP in calculating Spanish GDP. C) therefore they are added to British GDP in calculating British GNP. D) therefore they are added to Spanish GNP in calculating Spanish GDP. E) therefore they are subtracted from Spanish GNP.
Choices made in the ultimatum game suggest:
A. that in social situations, emotions such as anger and indignation influence economic decisions. B. that ultimatums make decision-making more optimal. C. that individuals are not influenced by social motives. D. that offering an ultimatum is usually a bad strategy.
New classical economists believe that:
a. market failure on a large scale is possible. b. disequilibrium in commodity markets demand government intervention. c. people are completely aware and informed about everything that is happening. d. wages are fixed in the short run. e. people purposefully substitute non-labor activities for work during recession.
Saving is a(n) ________ and wealth is a(n) ________.
A. asset; liability B. stock; flow C. flow; stock D. liability; asset