Which component of federal spending is included in GDP?
A) transfer payments
B) government purchases
C) net exports
D) capital supply
B
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When net exports increase,
A. the expenditures schedule increases. B. the expenditures schedule decreases. C. there is a corresponding increase along the aggregate demand curve. D. there is a corresponding decrease along the aggregate demand curve.
At the current level of output, long-run marginal cost is $50 and long-run average cost is $75. This implies that:
A) there are neither economies nor diseconomies of scale. B) there are economies of scale. C) there are diseconomies of scale. D) the cost-output elasticity is greater than one.
An income distribution in which all households receive exactly the same income is referred to as a(n)
a. just distribution of income. b. proportional distribution of income. c. equal distribution of income. d. equitable distribution of income.
During the recession of 2007-2009, the Federal Reserve began cutting its target for the Federal Funds rate in
A. September of 2007. B. September of 2008. C. January of 2009. D. January of 2007.