The accounting framework used in measuring current economic activity is called
A) the U.S. expenditure accounts.
B) the national income accounts.
C) the flow of funds accounts.
D) the balance of payments accounts.
B
You might also like to view...
This refers to an increase in government spending that produces a reduction in private spending
A) crowding out. B) investment disappointment. C) social loss. D) deadweight loss.
If the perfect competitor is taking a loss, its output will be _______ it's most efficient output.
A. greater than B. equal to C. less than
The case for deregulation rests on the argument that
A. Economies of scale are better achieved with the invisible hand. B. Government imperfections are worse than the market imperfections they were designed to cure. C. Regulation is desirable and efficient, but a laissez-faire approach is more equitable. D. Public goods are best provided by laissez faire.
Recall the Application about how changes in supply affect the price of gasoline to answer the following question(s).Recall the Application. Suppose the price elasticity of demand for gasoline is 0.20 and the price elasticity of supply for gasoline is 0.55. If supply decreases by 50 percent, the equilibrium price will increase by:
A. 67 percent. B. 70 percent. C. 143 percent. D. 150 percent.