A fiduciary monetary system has to have all of the following EXCEPT
A) trust.
B) a central bank.
C) acceptability.
D) predictability of value.
B
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In a closed economy without the government, income equals:
A) aggregate savings plus aggregate investment. B) aggregate consumption. C) aggregate savings. D) aggregate savings plus aggregate consumption.
In a given year, a country's GDP = $3843, net factor payments from abroad = $191, taxes = $893, transfers received from the government = $422, interest payments on the government's debt = $366, consumption = $3661, and government purchases = $338
Calculate the values of private saving, government saving, and national saving.
What is the determining factor of the market mechanism?
A.) The price of the good. B.) The government. C.) The presence of foreigners. D.) None of the above is true.
GDP measures the total income of everyone and the total spending by everyone in the economy.
Answer the following statement true (T) or false (F)