Which of the following is a stock?
A. Consumption
B. Wealth
C. Saving
D. Income
Answer: B
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The Phillips Curve will shift when
A) the overall employment rate remains unchanged. B) the expected inflation rate changes. C) the price level falls. D) none of the above.
The Laffer curve expresses a relationship between:
a. tax rates and tax revenues. b. inflation and unemployment. c. interest rates and saving. d. money supply and the price level.
Which of the following practices is restricted by the antitrust laws of the United States?
a. Merger of smaller firms into a large firm b. Entry of new firms in the long run c. Standardization of products in a market d. Exit of non-performing firms in the long run e. Quality differentiation by competitive firms
The aggregate supply curve would shift downward if
a. unit costs increase due to an increase in output b. the wage rate increases c. good weather increases crop yields d. an increase in real GDP causes the price level to decrease e. an oil embargo causes world oil prices to rise