The country of Bienmundo does not trade with any other country. Its GDP is $30 billion. Its government purchases $5 billion worth of goods and services each year and collects $6 billion in taxes. Private saving in Bienmundo amounts to $5 billion. What are consumption and investment in Bienmundo?
a. $17 billion and $8 billion, respectively.
b. $19 billion and $6 billion, respectively.
c. $19 billion and $8 billion, respectively.
d. $17 billion and $6 billion, respectively.
b
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In 2012, part-time workers for noneconomic reasons were about ________ of total employment, and part-time workers for economic reasons were about ________ of total employment
A) 3 percent; 25 percent B) 17 percent; 17 percent C) 2 percent; 12 percent D) 13 percent; 20 percent E) 13 percent; 6 percent
The Federal Open Market Committee consists of the
A) Federal Reserve chairman and the other six members of the Board of Governors. B) Federal Reserve branch bank presidents. C) Federal Reserve chairman and the Federal Reserve branch bank presidents. D) Federal Reserve chairman, the other six members of the Board of Governors, and five of the Federal Reserve branch bank presidents.
Charlie's Chimps is a perfectly competitive firm that produces cuddly chimps for children. The market price of a chimp is $10, and Charlie's produces 100 chimps. The marginal cost of the 100th chimp is $9. Charlie's ________
A) is maximizing its profit B) will maximize its profit if it produces more than 100 chimps C) will maximize its profit if it lowers the price to $9 a chimp D) will maximize its profit if it produces fewer than 100 chimps
Growth in real output per person occurred, on average, in colonial America. This growth translated into a great improvement in the quality of life for all citizens
Indicate whether the statement is true or false