"Saving" refers to ____ while "savings" refers to ____
a. a stock concept; a flow concept
b. how much is saved within a certain time period; accumulated assets
c. a stock concept; accumulated assets
d. how much is saved within a certain time period; a flow concept
b
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The Federal Reserve econometric model estimates that a 1 percent increase in the money supply will
A) increase real GDP by 1 percent after 3 years. B) increase real GDP by 2 percent in 3 years. C) increase real GDP by 3 percent 3 years. D) have no effect on real GDP after 2 years.
Individuals who suffer from unemployment spells lasting more than six months are ________
A) chronically unemployed B) frictionally unemployed C) discouraged workers D) no longer counted as part of the labor force
Individuals, firms, and societies are limited in the amount of goods and services that they can produce. This is a direct result of:
A. unemployment. B. waste. C. irrational behavior. D. scarcity.
The percentage of total expenditure spent on a specific product is called
A. A budget. B. Core inflation. C. A market basket. D. The item weight.