Private saving is positive when:
A. there is a government budget surplus.
B. after-tax income of households and businesses is greater than consumption.
C. after-tax income of households and businesses is greater than consumption expenditures.
D. there is a government budget deficit.
Answer: C
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Household spending on goods and services is known as
A) consumption spending. B) government purchases. C) net exports. D) planned investment spending.
Which of the following is not how economists describe the term "economic rent?:
A. The rental price of a factor of production minus the cost of supplying it. B. The producer surplus in output markets. C. The gains that workers and owners of capital receive from supplying their labor or machinery in factor markets. D. The total revenue that a factor of production earns its owner.
Which of the following is an example of a barrier to entry?
(A) Government deregulation (B) Low start-up costs (C) Perfect competition (D) High start-up costs
What was the most important advantage to the EU countries that adopted the EURO as their official currency?
A. Introduction of the euro increased exports to outside countries. B. Introduction of the euro has eased trade and commerce among the nations that adopted the euro. C. Introduction of the euro increased the disposal income of member countries population. D. The euro immediately replaced the dollar in international trade.