In the national income accounts, government expenditure on goods and services exclude
A) transfer payments.
B) state and local government purchases.
C) local government purchases but include state government purchases.
D) spending on national defense.
A
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The greater the degree of economic integration between markets in the home country and the base country:
A) the greater the volume of transactions and the greater the benefit to the home country of fixed exchange rates. B) the smaller the volume of transactions and the lesser the benefit to the home country of fixed exchange rates. C) the greater the volume of transactions and the greater the benefit to the home country of flexible exchange rates. D) the less important the volume of transactions and the greater the importance of ethnic similarities.
The quantity demanded of a good or service is the quantity that a consumer
A) is willing to buy at a particular price during a given time period. B) actually buys at a particular price during a given time period. C) needs to buy at a particular price during a given time period. D) should buy at a particular price during a given time period.