Refer to the information provided in Table 25.7 below to answer the question(s) that follow.Table 25.7
Refer to Table 25.7. The net worth of Great Gazoo Bank is
A. $100,000.
B. $300,000.
C. $500,000.
D. $900,000.
Answer: A
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Additional investments in machines that enhance the ability to produce goods and services imply that
a. the owners of the investments will necessarily have to borrow funds. b. the owners of the investments will necessarily have to reduce their current consumption. c. someone will have to reduce current consumption. d. future consumption will have to be reduced.
The following provides data for an economy in a certain year. Consumption expenditures$1,000Imports$600Government purchases of goods and services$700Construction of new homes and apartments$500Sales of existing homes and apartments$600Exports$500Government payments to retirees$200Household purchases of durable goods$300Beginning-of-year inventory$500End-of-year inventory$600Business fixed investment$300Given the data, compute the investment component of GDP.
A. $900 B. $400 C. $300 D. $800
Policymakers' attempts to use the Phillips curve to reduce the unemployment rate below the natural rate
A. will be successful if monetary policy is used. B. will be unsuccessful if monetary policy is used since monetary policy leads to higher prices. C. will be unsuccessful since workers' expectations adjust to attempts to reduce unemployment below the natural rate. D. will be successful since the Phillips curve shows the relationship between the inflation rate and the unemployment rate.
Which statement is false?
A. Compared to 30 years ago, there is more sentiment in the U.S. for protection against the import of foreign goods. B. The basis for international trade is specialization. C. Our balance of trade has been negative since the early 1900s. D. None of these statements are true.