National income equals gross national product minus
A) inventories.
B) changes in inventories.
C) depreciation.
D) imports.
C
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Professional baseball teams in the United States use only wooden bats. If aluminum bats were permitted, the impact on the wooden bat market would be
A. a higher price for wooden bats. B. a lower price for wooden bats. C. an increase in the number of firms producing wooden bats. D. higher wages for workers in the wooden bat industry.
Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
Which is most likely to be observed in a community where price ceilings are imposed on residential rents?
A. Those whose needs for housing are most urgent will be able to obtain the space they want. B. Poor people will be able to find adequate housing. C. Homeowners will reduce their own use of housing space, making more available to others. D. People moving into the community will have difficulty locating residential space to rent.
Only realized capital gains are included in taxable income.
A. True B. False C. Uncertain