Which of the following is correct?
A. Public saving equals national saving plus private saving.
B. National saving equals public saving minus private saving.
C. National saving equals private saving plus public saving.
D. Private saving equals national saving plus public saving.
Answer: C
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The economy could reach point W if it
A. reduced the unemployment rate.
B. achieved economic growth.
C. decreased its quantity of land, labor and capital.
D. shifted resources from butter production into the manufacturing guns.
A negative income elasticity of demand indicates that the product
A. is a complementary good. B. is an inferior good. C. is a normal good. D. is a substitute good.
The value of the real estate that a bank uses for its operations will be included in the bank's:
A) cash equivalents. B) reserves. C) short-term borrowing. D) long-term investments.
For electricity, natural gas, or other forms of energy, it is very likely that the price elasticity of demand
A) is zero. B) is infinite. C) will decrease in magnitude as more time passes after a price change. D) will increase in magnitude as more time passes after a price change.