The largest single expenditure component of GDP is:
a. consumption
b. investment.
c. government purchases.
d. net exports.
a
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A decrease in ________ tends to decrease ________ and therefore decrease ________
A) cost; price; supply B) cost; demand; price C) demand; price; cost D) supply; cost; price
The unemployment rate equals the number of
A) unemployed workers multiplied by 100. B) unemployed workers divided by the population then multiplied by 100. C) unemployed workers divided by the number of employed workers then multiplied by 100. D) unemployed workers divided by the labor force then multiplied by 100.
Market forces can easily determine a currency's international role, yet government decree is most important in determining the international reserve currency status of a currency
Indicate whether the statement is true or false
The statement that "what this nation needs to promote economic growth is a major tax cut" is an example of:
a. Descriptive economics b. A normative economic statement c. An economic theory d. A positive economic statement