(amounts in billions of dollars)
According to the above table, national income is
A. $11,866 billion.
B. $12,637 billion.
C. $11,968 billion.
D. $11,943 billion.
Answer: C
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When did the United States suffer hyperinflation?
A) Revolutionary War B) War of 1812 C) World War II D) Korean War
Foreign banks may engage in banking activities in the United States by opening all of the following EXCEPT
A) an agency office of the foreign bank. B) a subsidiary U.S. bank. C) a branch of the foreign bank. D) a McFadden Corporation.
If the price of orange juice rises 10%, and as a result the quantity demanded falls by 10%, then one can conclude that the demand for orange juice
A) is perfectly elastic. B) is inelastic. C) has a unitary elasticity. D) has a constant elasticity.
The MRP of labor will shift to the left if
A) labor productivity increases. B) labor productivity decreases. C) wages increase. D) wages decrease.