Refer to Figure 10.1. If the level of real GDP is initially Y2, spending is ________ production and there is an unexpected ________ in inventories

When deciding to implement a congestion tax, economists and the government would use the elements of the economic way of thinking to primarily determine

A) what tax amount should be charged. B) who should be exempt from the tax. C) if the tax would be allocated equitably. D) how much revenue will the tax generate.

The largest income component in the national income accounts is

A. wages. B. rents. C. corporate profits. D. interest.