Government consumption expenditures equal
A) government outlays minus transfer payments.
B) government outlays minus net interest payments.
C) government purchases minus government investment.
D) the government primary deficit plus net interest payments.
A
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Figure 5-17
Which of the following statements about Figure 5-17 must be correct?
A. The consumer pays a higher dollar price per unit for good Y at A than at D. B. The consumer pays the same dollar price per unit for good Y at A and at B. C. The consumer pays a higher dollar price per unit for good X at D than at A. D. The consumer pays a higher dollar price per unit for good X at A than at C.
Which one of the following is true?
a. Nike has a more inelastic demand curve than shoes b. The demand curve for gas is more elastic in the short-run than in the long-run c. Cigarettes have a more elastic demands than televisions d. Salt has a more inelastic demand than meat
Net exports is calculated by:
A. adding total exports and total imports together. B. subtracting total exports from total imports. C. subtracting total imports from total exports. D. None of these is correct.
The price elasticity of supply measures how
A. responsive the quantity supplied of Y is to changes in the price of X. B. responsive quantity supplied is to a change in incomes. C. easily labor and capital can be substituted for one another in the production process. D. responsive the quantity supplied of X is to changes in the price of X.