Suppose that in a given country in a given year, GNP equals $2,000, investment expenditures equal $200, government expenditures equal $150, and the current account surplus equals $50. Consumption expenditures therefore equal
A) $1,000.
B) $1,200.
C) $1,400.
D) $1,600.
D
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Alice Hanson Jones (1980) finds that private nonhuman physical wealth in New England in 1774 was 36.4 pounds sterling per capita. Thus, assuming a capital output ratio of 3:1, Jones estimates that per capita income in New England in 1774 equaled:
a. about 9 pounds sterling. b. about 12 pounds sterling. c. about 45 pounds sterling. d. about 145 pounds sterling.
Household savings rates:
A. were negative in China in 2014. B. were 49% in China in 2014. C. were fairly constant at about 8% in China from 2000 to 2010. D. have been roughly 10% for the last 30 years or so in China.
According to the quantity theory of money, if the monetary authorities allow the money supply to grow at a rate of 6 percent in an economy that is growing by 2 percent in real terms, then inflation will be:
A. 4 percent. B. 6 percent. C. 8 percent. D. 2 percent.
There are ________ Federal Reserve Banks located in different parts of the United States.
A. 10 B. 12 C. 15 D. 50