The theories of consumption were developed by
A) Friedman and Phelps.
B) Hicks and Hansen.
C) Modigliani and Friedman.
D) Lucas and Sargent.
C
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Economies of scale in information production are enjoyed by
A) small borrowers. B) small lenders. C) large borrowers. D) large lenders.
Suppose Japanese-based Toshiba Corporation builds and operates a new computer factory in the United States. Future production from such an investment will
a. increase U.S. GNP more than it increases U.S. GDP. b. increase U.S. GDP more than it increases U.S. GNP. c. have no affect on U.S. GNP, but will increase U.S. GDP. d. have no affect on U.S. GNP or GDP.
If the level of consumption is? $120 billion and disposable income is? $150 billion, then the
A. APC? = 0.8 and saving is positive. B. APC? = 0.8 and saving is negative. C. APC? = 0.75 and saving is positive. D. APC? = 0.75 and saving is negative.
Which statement is true?
A. Our merchandise trade deficit and our overall trade deficit are identical. B. Our merchandise trade deficit is greater than our overall trade deficit. C. Our overall trade deficit is greater than our merchandise trade deficit. D. None of these statements are true.