Which of the following is true of the expenditure-based method of national accounting?
A) It does not track the purchase of goods and services by the government.
B) It only tracks the purchase of goods and services by the government.
C) It tracks the purchase of investment goods by firms and households.
D) It does not track the purchase of services by households.
C
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Assume we have a simplified banking system in balance-sheet equilibrium. Also assume that all banks are subject to a uniform 10 percent reserve requirement and demand deposits are the only form of money. A commercial bank receiving a new demand deposit of $100 would be able to extend new loans in the amount of
A. $10.
B. $90.
C. $100.
D. $1,000.
A tax hike ________ aggregate demand and ________ aggregate supply
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases E) does not change;increases
In the United States, barriers to entry in professional team sports (for example, football and baseball) result from
A) the draft of college players, which grants teams exclusive signing rights to individual players. B) long-term leases teams sign for stadiums and ballparks in major cities. C) the reserve clause, which is a provision in contracts of professional athletes that require them to play for specific teams over the length of their contracts. D) television contracts, which give networks the exclusive rights to broadcast games.
In perfect competition,
a. there are typically two or three equally powerful firms b. a large number of sellers offer a differentiated product c. the firm is a price taker d. marginal revenue cannot be calculated because the firm's demand is perfectly elastic e. the market demand and the firm's demand are perfectly elastic