In a closed economy:
A) consumption is equal to zero. B) investment is equal to zero.
C) government spending is equal to zero. D) net exports is equal to zero.
In a closed economy, without the government, the consumption expenditure equals $5,000 and the investment expenditure equals $2,000.
D
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If a firm is a monopsonistic hirer of labor,
a. its marginal expense for labor is greater than the market wage. b. its marginal expense for labor is equal to the market wage. c. its marginal expense for labor is less than the market wage. d. it is a price taker in the labor market.
Suppose the price of natural gas, a typical fuel for heating homes, rises in January in Alaska. Would you expect the price elasticity of demand for natural gas to more inelastic immediately after the price increase or at some point in the future?
In a consumption schedule, the change in consumption is a constant $12 billion and the change in income is a constant $16 billion across each consumption and income level. It can be concluded that the:
a. Slope of the saving schedule is .33 b. Marginal propensity to save is .25 c. Slope of the consumption schedule is .67 d. Marginal propensity to consume is 1.33
The major problem with paired-choice majority voting is that the outcome:
A. Is constant B. Is subject to bribery and abuse C. May depend on the order of the voting D. Results in clear preferences among the choices