Suppose that nondurable goods spending is $200 billion, durable goods spending is $400 billion, new residential housing spending is $500 billion, and spending on services is $700 billion. What does consumption equal?
A) $600 billion
B) $1,100 billion
C) $1,800 billion
D) $1,300 billion
E) There is not enough information to answer this question.
D
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If price exceeds average total cost
a. the firm earns an economic profit b. there are a large number of buyers and sellers c. the firm suffers an economic loss d. the firm closes down e. the firm should reduce its production
Keynesian macroeconomists believe that the time it takes for falling wages and prices to eliminate a recessionary gap is __________ enough to say that the economy is __________
A) long; not self-regulating B) long; self-regulating C) short; not self-regulating D) short; self-regulating
(I) When individuals engage in a voluntary exchange, both parties are made better off. (II) By channeling goods and resources to those who value them most, trade creates value and increases the wealth created by a society's resources.
What will be an ideal response?
When the price of a bond is below the face value, the yield to maturity:
A. will equal the current yield. B. will equal the coupon rate. C. is below the coupon rate. D. will be above the coupon rate.