Transfer payments are included in
A. net domestic product.
B. gross domestic product.
C. personal income.
D. national income.
Answer: C
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If real Gross Domestic Product (GDP) is $6 trillion, then unplanned business inventories will
A) rise. B) be zero. C) fall. D) be equal to planned inventories.
In an open economy, a decrease in the government's budget deficit will ________ the domestic real interest rate and ________ the level of capital investment in the country, holding other factors constant.
A. increase; increase B. decrease; decrease C. decrease; increase D. increase; decrease
Suppose a new EU member begins substituting its imports from non-EU members to other EU members. This is an example of
A. trade deflection. B. trade diversion. C. free trade. D. trade detection.
The basic purpose of antitrust laws is to:
A. Provide subsidies for American business B. Limit monopoly power in industry C. Control prices to protect consumers D. Enforce laws that restrict competition