Gross domestic product (GDP) equals the ________ of final ________ produced within a country during a given period of time.
A. market value; goods and services
B. quantity; goods and services
C. market value; goods
D. market value; services
Answer: A
Economics
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If Suzette responds to an increase in the interest rate by decreasing her saving, then, for Suzette,
a. the increase in the interest rate creates an income effect that is greater than the substitution effect. b. the increase in the interest rate creates a substitution effect that is greater than the income effect. c. consumption when young and consumption when old are perfect substitutes. d. consumption when young and consumption when old are perfect complements.
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Who wrote the General Theory of Employment, Interest, and Money?
A. David Ricardo B. Adam Smith C. John Maynard Keynes D. Milton Friedman
Economics