Which of the following best represents household saving?
A) T - (G + TR)
B) (Y - TR) + I
C) (Y - C - G - NX)
D) (Y + TR - T) + C
D
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Suppose that the market for corn is perfectly competitive. If corn farmers are currently generating losses, then we would expect that in the long run the market
A. supply curve will shift to the left. B. supply curve will shift to the right. C. demand curve will shift to the right. D. demand curve will shift to the left.
In the United States, out-of-pocket spending on health care is about ________ percent of all health care spending
A) 2 B) 12 C) 33 D) 48
From the quantity equation we find that the rate of inflation is equal by definition to the growth rate of the money supply ________ the growth rate of velocity ________ the growth rate of real GDP
A) plus, plus B) plus, minus C) minus, plus D) minus, minus
An incentive conflict is when
a. The agent and the principal have identical incentives b. The agent has different incentives than does the principal c. The agent and the principal neither have any incentives to work hard d. None of the above