4 determinants of aggregate demand
What will be an ideal response?
1) government spending
2) investment spending
3) net export spending
4) consumer spending
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A public good
a. possesses the characteristic of nonrivalry in consumption b. is one whose benefits cannot be shared c. is provided by the public sector d. has nonexcludable benefits e. both (a) and (d)
A subjective analysis of "what should be" in the economy is referred to as
A) positive economics. B) normative economics. C) command economics. D) implicit economics.
Because interest rates have substantial fluctuations, the ________ theory of the demand for money indicates that velocity has substantial fluctuations as well
A) classical B) Cambridge C) liquidity preference D) Pigouvian
If the federal government runs a budget deficit, and the budget deficit as a percent of GDP is equal to the growth rate of real output, the
a. national debt will decrease as a share of GDP. b. national debt will remain a constant share of GDP. c. national debt will increase as a share of GDP. d. size of the national debt (in dollar value) will decline.