GDP is the sum of consumption, investment, government purchases, and:
A.) The factors of production.
B.) Net exports.
C.) Saving.
D.) Capital stock.
B.) Net exports.
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The downward slope of the demand curve is attributed to:
a. the inverse relationship between price and quantity demanded. b. the direct relationship between income and quantity demanded. c. the direct relationship between price and quantity demanded. d. the inverse relationship between income and quantity demanded. e. the direct relationship between consumer preferences and quantity demanded.
Banks, savings and loans associations, and credit unions that are able to loan out some fraction of their deposits are
a. examples of financial intermediaries b. all required to be FDIC members c. always the most risky investors d. part of the Federal Reserve System e. disallowed from charging interest on their deposits but can charge interest on their loans
If the consumer price index was 96 in 2012, 100 in 2013, and 102 in 2014, then the base year must be
a. 2012. b. 2013. c. 2014. d. The base year cannot be determined from the given information.
The Latin phrase ceteris paribus refers to holding other variables constant.
Answer the following statement true (T) or false (F)