Recently, the U.S. national income accounts have switched to calling government purchases
a. government spending and transfer payments.
b. transfer payments and gross investment by government.
c. government consumption expenditure and gross investment.
d. government wages, salaries, and investment expenditure.
c
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Average variable cost is equal to
A) average total cost minus average fixed cost. B) average total cost multiplied by output. C) total cost divided by output. D) the change in total cost divided by the change in output.
For central bank liquidity swaps, which of the following is NOT true?
A. In a central bank liquidity swap, the Fed provides dollars to a foreign central bank. B. Central bank liquidity swaps failed to effectively address the dollar problems in foreign banking systems during the global financial and economic crisis, so the swap programs were ended in February 2010. C. Non-U.S. central banks used the dollars they received through central bank liquidity swaps to lend to financial institutions in their countries. D. Central bank liquidity swaps were intended to provide dollar funding to non-U.S. financial institutions during the global financial and economic crisis.