Assuming MPC is 0.90, what effect, if any, would an increase of $100 billion of U.S. exports have on the U.S. level of national income?
a. No effect since the goods would be consumed abroad
b. National income increases by $100 billion
c. National income decreases by $100 billion
d. National income increases by $1,000 billion
e. National income decreases by $1,000 billion
D
Economics
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Money is not considered to be an economic resource because:
A. As such it is not productive B. Money is not a free gift of nature C. Money is made by man D. Idle money balances do not earn interest income
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The United States accounts for more than 50 percent of world production.
Answer the following statement true (T) or false (F)
Economics