In 2013, which of the following countries spent the most on Research and Development?
a. China
b. Germany
c. Japan
d. the U.S.
d
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In the aggregate expenditure model, which of the following variables is assumed to be independent of real GDP?
A. consumption B. saving C. investment D. profit
The transactions demand for money is the demand to hold money to
A) make regular, expected purchases. B) purchase bonds when interest rates increase. C) store one's wealth. D) meet unplanned expenditures.
Risk pooling:
A. lowers the costs of catastrophes when they occur. B. reduces the chances of catastrophes happening. C. allows individuals the peace of mind that they will never have to pay the full expense of a catastrophe if it hits them. D. All of these statements are true.
Saving divided by income equals the _______ rate.
A. interest B. income C. wealth D. saving