Suppose GDP is $10 billion, consumption expenditure is $7 billion, investment is $2 billion, and government expenditure on goods and services is $2 billion. Net exports of goods and services must be
A) $1 billion. B) -$2 billion. C) -$1 billion. D) $2 billion. E) $10 billion.
C
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The Fed relies primarily on the discount rate to control the money supply
a. True b. False Indicate whether the statement is true or false
Which of the following products is most likely to be produced by a perfectly competitive firm?
a. color televisions b. breakfast cereal c. legal services d. corn e. notebook computers
The three major responsibilities of the ________ are legislative power, control over the budget, and supervision of executive decisions.
A) European Commission B) European Council C) European Parliament D) European Court of Justice
According to new growth theory, per capita growth is:
A. limited by learning by doing. B. limited by diminishing marginal productivity. C. unlimited if production is characterized by increasing returns to scale. D. unlimited if production is characterized by constant marginal productivity.