Refer to Table 8-28. Based on the table above, what is national income for this economy?
A) $1,950 billion B) $2,250 billion C) $2,950 billion D) $3,550 billion
C
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The objective of risk management is to
a. determine the level of risk that is “acceptable” to society b. evaluate and select the best policy approach to achieve the “acceptable” level of risk c. evaluate and select the policy initiative to achieve any level of risk d. (a) and (b) only e. (a) and (c) only
Supply curves slope upward because:
a. the quality is assumed to vary with price. b. technology improves over time, increasing the ability of firms to produce more at each possible price. c. increases in the price of a good lead to rightward shifts of the supply curve. d. rising prides provide producers with the incentives needed to increase the quantity supplied.
When the U.S. government removes investment tax credits:
a. consumption spending falls. b. the return on investment increases. c. capacity utilization in the economy expands. d. the cost of capital increases. e. technological innovation advances more rapidly.
Any time the economy is between a trough and a peak of the business cycle it is in a recovery phase
Indicate whether the statement is true or false