National income is derived from gross domestic product by
A) subtracting retained earnings from gross domestic product.
B) adding personal taxes and depreciation to gross domestic product.
C) subtracting depreciation from gross domestic product.
D) adding personal income and transfer payments to gross domestic product.
Answer: C
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One reason why banks might increase their reserve-deposit ratio above the minimum level in times of economic uncertainty is that
A. banks are most profitable when new loans are issued. B. banks may have insufficient required reserves. C. banks are initiating quantitative easing D. banks may find only limited lending opportunities that seem sufficiently safe.
In the decade immediately following emancipation, former slaves
a. were willing to work under the gang system in return for wages and benefits. b. decreased their labor supply. c. obtained ownership of roughly 40 percent of southern farms. d. moved to northern states in large numbers.
Exhibit 3A-1 Comparison of Market Efficiency and Deadweight Loss
As shown in Exhibit 3A-1, if the market is in equilibrium, then ____ represents total surplus.
A. ABEFD B. ABEC C. EFG D. BEF
The difference between the official and correct measures of the deficit will be greater,
A) the lower is government spending. B) the lower is the level of debt, B. C) the higher is inflation. D) none of the above