In a closed economy ________
A) investment equals consumption
B) investment equals savings
C) saving equals consumption
D) exports are greater than imports
B
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If the Commerce Department adjusts the growth rate of GDP downward for the first quarter of 2016, and the Bureau of Labor Statistics adjusts the number of hours worked upward for the first quarter of 2016, what will the Bureau of Labor Statistics do
in terms of revising the figures on the growth rate of labor productivity for the first quarter of 2016? A) The BLS will not change the growth rate of productivity. B) The BLS will adjust the growth rate downwards. C) The BLS will adjust the growth rate upwards. D) The BLS will adjust the level of labor productivity upward and the growth rate downward.
An increase in the money supply in the simple Keynesian model causes
A) income to fall. B) inventories to rise. C) interest rates to fall. D) investment to fall.