In which of the following cases would it necessarily be true that national saving and private saving are equal for a closed economy?
a. Private saving is equal to government expenditures.
b. Public saving is equal to investment.
c. After paying their taxes and paying for their consumption, households have nothing left.
d. The government's tax revenue is equal to its expenditures.
d
You might also like to view...
Answer the following statement(s) true (T) or false (F)
1. Achieving cost-effectiveness means that the present value of costs (PVC) is minimized for some pre-established benefit goal. 2. To achieve allocative efficiency, the present value of net benefits (PVNB) must be minimized. 3. In conducting a benefit-cost analysis, it is more difficult to assign a dollar value to costs than to benefits. 4. Selecting the social discount rate is among the issues debated in the use of benefit-cost analysis for public policy evaluation.
All of the following would be considered explicit costs of operating a business except
A) the rental value of equipment the company owns and uses for its own production. B) advertising expenses. C) utility expenses. D) the cost of raw materials used in production.
Caleb teaches economics at Yucky State University and is paid $50,000 per year. He also provides economic forecasts for local business for which he charges $100 per hour. Which of the following is true?
a. all of Caleb's income is salary b. some of Caleb's income is salary and some is personal interest c. all of Caleb's income is proprietor's income d. some of Caleb's income is salary and some is proprietor's income e. all of Caleb's income is personal interest
One reason that college graduates earn higher wages than non-graduates is because:
A. college graduation serves as a signal of the individual's productivity. B. there are no additional skills learned in college that increase productivity. C. college graduates are always less intelligent than non-college graduates. D. college graduates are less equipped to deal with technological change, as their skills are technology-specific.