In a closed economy,
A) I = Y + C + G. B) I = Y - C - G. C) I = Y - C + G. D) I = Y + C - G.
B
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The U.S. federal government embraced all of the Populists' requests, including the nationalization of the railroad system
Indicate whether the statement is true or false
If a good's demand function is Q = 30 - 3P, then calculate the price elasticity of demand when
a. good price is $3 using the point elasticity formula b. good price is $4 using the point elasticity formula c. good price decreases from $4 to $3, using the arc elasticity formula d. good price is $5, using the point elasticity formula e. good price increases from $4 to $5, using the arc elasticity formula
According to the classical theory, a contractionary monetary policy ________ the price level and ________ output in the long run.
A. doesn't change; doesn't change B. decreases; doesn't change C. decreases; increases D. increases; increases
Answer the following statements true (T) or false (F)
1. Imports and exports are examples of financial flows. 2. When a U.S. firm purchases a Hungarian metal plant, this is an example of a capital resource flow. 3. In terms of combined volume of imports and exports, China was the world's leading trading nation in 2012. 4. A trade deficit occurs when government spending exceeds tax revenues. 5. One leading export of the United States is agricultural products.