The common measure of wealth used in calculating the distribution of wealth includes
A) workers' claims on the Social Security system.
B) workers' claims on private pension funds.
C) financial assets.
D) human capital.
C
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A new financial innovation results in people switching their funds from checking deposits to savings accounts. The quantity of M1 ________ and the quantity of M2 ________
A) decreases; decreases B) increases; decreases C) decreases; does not change D) decreases; increases
Normative economic statements
A) are statements of "what ought to be." B) are statements of "what is." C) are statements that may be tested by referring to facts and data. D) do not involve value judgments.
Public choice analysis
a. assumes individuals in the public sector seek to serve the public interest rather than their own personal interests. b. is the study of the decision making of individual actors (such as voters, politicians, and bureaucrats) in the public sector. c. suggests that individual voters have a greater incentive to become informed when making choices among political candidates than when making choices about the products they consume. d. finds that the individuals managing government agencies generally have a much stronger incentive to be efficient than do individuals managing private businesses.
Last year a country had exports of $50 billion, imports of $60 billion, and domestic investment of $40 billion. What was its saving last year?
a. $30 billion b. $20 billion c. $10 billion d. -$10 billion