How is national output related to national income?
A) Income is greater than output during recoveries and booms.
B) Income is greater than output during recessions and depressions.
C) Output exceeds income by the amount of unsold goods.
D) They are always equal.
E) They are only equal when the economy is in equilibrium.
D
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The production possibilities curve depicts the combinations of two goods that can be
a. viewed as creating international specialization, one country producing one good, the other a second good b. produced with a given level of technology and set of resources c. consumed with a given quantity of resources and level of technology d. produced with varying levels of unemployment of resources e. produced with varying levels of unemployment and underemployment of resources
During the mid to late 1990s, the incentives for investment spending were provided by rising
a. aggregate demand. b. real interest rates. c. levels of corporate taxes. d. levels of capital gains taxes.