When the total U.S. production of goods and services is divided into consumption goods and services, capital goods, government goods and services, and export goods and services, the largest component is
A) consumption goods and services.
B) capital goods.
C) government goods and services.
D) export goods and services.
E) capital goods and government goods and services tie for the largest component.
A
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Whenever fiscal policy actions, such as income tax cuts, are utilized to expand the economy, the Keynesians prefer
a. a contractionary monetary policy. b. monetary policy to stay the same because of the liquidity trap. c. accompanying decreases in the money supply that will cause the interest rate to rise and, thus, prevent the crowding out of investment. d. accompanying increases in the money supply in order to prevent the interest rate from rising and, thus, prevent the crowding out of investment. e. both b and/or d
What is the Nash equilibrium of the game?
a. Each firm charges a LP b. Each firm charges a HP c. You charge a LP and your rival charges a HP d. None of the above.