Answer the question on the basis of the following data. All figures are in billions of dollars. Proprietor's Income 20 Compensation of Employees 300 Consumption of Fixed Capital 15 Gross Investment 80 Rents 10 Interests 20 Exports 30 Imports 50 Corporate Profits 25 Taxes on Production and Imports 5 Net Foreign Factor Income 0 Statistical Discrepancy 0 Refer to the above data. National income is:
a) $395.
b) $380.
c) $375.
d) $360.
b) $380.
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Fertility refers to:
A) the ratio of deaths in an area to the population of the area. B) the number of children per adult or per woman of childbearing age. C) the ability of an individual to read or write in at least one language. D) the average period that an individual may be expected to live.
Which of the following causes an economy to move rightward along the aggregate production function?
A) A decrease in the capital stock B) An improvement in technology C) An increase in the productivity of workers D) An increase in the price level
When supply decreases and the supply curve shifts to the left, equilibrium price ________ and equilibrium quantity ________
A) increases; decreases B) decreases; increases C) decreases; decreases D) increases; increases
A ________ is the price at which a trading partner is indifferent between making the trade and not doing so
A) market value B) reservation value C) shadow value D) discounted value