When G = T the government is running a budget deficit

National income is defined as gross national product minus

a. depreciation and net taxes. b. national income. c. depreciation. d. personal disposable income.

All else equal, when the Federal Reserve Banks engage in an expansionary monetary policy, the interest rates received on government bonds usually:

A. fall. B. rise. C. remain constant. D. move in the same direction as the bonds' price.