List the four criteria that are generally used to evaluate economic outcomes

If the real rate of interest is the same internationally, then the nominal interest rates differ solely by the expected inflation differential in two countries

Indicate whether the statement is true or false

Answer the following questions true (T) or false (F)

1. In the circular flow diagram, the value of all the income in the economy is greater than the value of goods and services produced in the economy. 2. Residential investment includes spending by firms on office buildings. 3. High-income countries such as the United States spend a greater amount on services as compared to goods.