Household consumption as a percentage of GDP in the United States is
A) less than that in other high-income countries.
B) greater than that in low-income countries.
C) equal to that in middle-income countries.
D) greater than the average for countries around the world.
D
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The present discounted value of $100 payable 1 year from now, assuming a market rate of interest of 10 percent, is:
A. $100. B. $10. C. $90. D. slightly less than $90. E. slightly more than $90.
The concept of limited and bundled choice, as used in public choice theory, refers to the fact that:
A. Politicians may not be objective in evaluating economic policy programs B. Because of the importance of television and other modern communication techniques, the best and brightest candidates may not be selected by voters C. In an election, voters must select a candidate who has various preferences in a wide array of issues D. The most economically efficient public policy programs may not be selected because political leaders do not know enough about economics