The best estimate of the effect of the euro on trade, according to Richard Baldwin, is a(n):
A) increase of 9%.
B) increase of 235%.
C) fall of 9%.
D) fall of 7%.
Ans: A) increase of 9%.
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Economic growth is the result of two major or general "determinants":
A) capital and autonomous planned spending. B) capital per capita and autonomous planned spending. C) capital per capita and autonomous growth factors. D) saving and autonomous growth factors.
Suppose that personal income is $250 billion. Furthermore, assume that retained corporate earnings are $2 billion, social security taxes are $15 billion, social security benefit checks equal $16 billion, the capital consumption allowance is $32 billion, and corporate taxes amount to $40 billion. The national income of this nation will be:
a. $236 billion. b. $249 billion. c. $251 billion. d. $279 billion. e. $290 billion.