Personal income can never be greater than national income
Indicate whether the statement is true or false
F
You might also like to view...
Why did the classical economists think that large-scale unemployment was not possible in a market economy?
What will be an ideal response?
If, during a deposit expansion, not all money gets redeposited into the banking system and some leaks out as currency, then the real world multiplier is
A) not related to 1/RR. B) smaller than 1/RR. C) equal to 1/RR. D) larger than 1/RR.
An increase in private sector borrowing (and spending) caused by decreased government borrowing is known as
A. Crowding in. B. Crowding debt. C. Debt reduction. D. Crowding out.
A problem with the CPI is:
a. it has a quality bias and assumes product quality is constant over time. b. it accounts for more buying at discount stores. c. it under-estimates inflation. d. it assumes product quality that is too high.