(C + S + T) most closely approximates
A) personal income.
B) personal disposable income.
C) national income.
D) net national product.
E) gross national product.
A
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When firms decide how much labor to hire, one of the factors that influences them is the
A) nominal wage rate plus the inflation rate. B) nominal wage rate divided by the price level and then multiplied by 100. C) nominal wage rate minus the inflation rate. D) real wage rate plus the inflation rate. E) nominal wage rate divided by the inflation rate and then multiplied by 100.
The conventions of national income accounting imply that saving and investment are equal for the economy as a whole and for individual households and firms
a. True b. False Indicate whether the statement is true or false
The diagram below shows the general equilibrium model for a small economy. For this economy, the economically efficient allocation of resources occurs at point 
A. B. B. C. C. D. D. A.
People in a certain group have a 0.3% chance of dying this year. If a person in this group buys a life insurance policy for $3,300 that pays $1,000,000 to her family if she dies this year and $0 otherwise, what is the expected value of a policy to the insurance company?
A) $0 B) $300 C) $3,000 D) $3,300