The following national income statistics are in billions of dollars
Refer to the above data. Net domestic product is:
A.
$400 billion
B.
$442 billion
C.
$483 billion
D.
$517 billion
B.
$442 billion
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One characteristic of built-in or automatic stabilizers is that
A) they require no new legislative action by Congress to have an effect. B) they automatically produce surpluses during recessions and deficits during inflation. C) they have no effect on the distribution of income. D) they reduce the size of the public debt during times of recession.
Trade deflection is an act that
A) decreases the amount of international trade in the world. B) increases the amount of international trade in the world. C) has no impact on the amount of international trade in the world. D) is illegal among all countries in the world.
Shopping at a warehouse, such as Sam's Club or Costco, allows its members to pay very low prices on the goods and services they buy. Customers who shop at such a store incur:
A. transaction costs because they must be members to shop there. B. no transaction costs because they pay prices that are lower than any other location. C. transaction costs because they must buy a product in bulk. D. no transaction costs because members can return any item purchased for any reason.
A decrease in what variable will raise the quantity of goods and services supplied, and shift only the short run aggregate supply curve to the right?