Identify the correct statement
a. National income accounting measures only the flow of output between different sectors of an economy.
b. National income accounting summarizes the level of production in an economy over a decade.
c. National income accounting explains diagrammatically the flow of goods and services and of money expenditures (income).
d. National income accounting summarizes and categorizes the productive activity in an economy over a year.
e. National income accounting measures the total money supply in an economy.
d
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Which of the following increases the quantity of money demanded?
A) a fall in the nominal interest rate B) a rise in the nominal interest rate C) a rise in the inflation rate D) a rise in the real interest rate E) an increase in real GDP
According to supply-side theory, if one starts from a balanced budget, a cut in taxes will tend to cause ________
A) a budget deficit B) no change in the federal government budget C) a decrease in aggregate supply and an increase in aggregate demand D) a budget surplus