Gross Investment 18 National Income 100 Net Exports 2 Personal income 85 Personal Consumption Expenditures 70 Saving 5 Government Purchases 20 Net Domestic Product 105 Statistical Discrepancy 0 Refer to the above data. Disposable income is:
a) $83.
b) $73.
c) $75.
d) $77.
c) $75.
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According to the U.S. Department of Commerce, all persons, unrelated or related, who occupy a housing unit comprise
a. a family unit. b. a household. c. an extended family unit. d. group living.
GDP is: a. the total value of all consumer expenditures within a given period
b. national income after taxes. c. the total value of all final goods and services plus intermediate goods and services produced domestically within a given period. d. the value of all final goods and services produced domestically within a given period.
Certain religious texts prohibit charging interest to people who borrow. This is a form of
a. minimum pricing b. rationing c. target pricing d. price ceiling e. price floor
The economy’s self-correcting mechanism to eliminate a recessionary gap relies on
A. falling interest rates that shift the aggregate demand curve outward. B. falling wage rates that shift the aggregate supply curve outward. C. rising wage rates that shift the aggregate supply curve inward. D. increases in the price level that shift the aggregate supply curve inward.