National income:
a. is included in gross private domestic investment.
b. includes the sum of all payments made to resource owners for the use of their resources.
c. includes depreciation.
d. is often measured as C + I + G + (X ? M).
b
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Consider the market for leather shoes. If producers believe the price of leather shoes will increase next month, today
A) the supply curve for leather shoes shifts rightward. B) the supply curve for leather shoes shifts leftward. C) there is a movement along the supply curve for leather shoes. D) the equilibrium price of leather shoes falls. E) the equilibrium quantity of leather shoes increases.
The amount the government budget deficit would be if the economy were at full employment is known as the
A) primary deficit. B) full-employment deficit. C) natural deficit. D) current deficit.