In the circular flow we would expect leakages to ___________ injections?
A. equal
B. be less than
C. be greater than
D. be less or greater than
The National Economy
Leakages from the circular flow are _________ and __________?
Leakages from the circular flow are _________ and __________?
A. investment, savings, government expenditure
B. savings, taxes net of subsidies imports
C. consumption investment government expenditure
D. consumption taxes imports
In an economy measuring (1) total value added (2)total spending on final goods and (3)total factor earning gives the result that ?
In an economy measuring (1) total value added (2)total spending on final goods and (3)total factor earning gives the result that ?
A. 3>2>1
B. 3=2=1
C. 3<2<1
D. any measure can be larger or smaller than any other
Two of the major factors contributing to growth are ?
Two of the major factors contributing to growth are ?
A. resources and efficiency
B. money and efficiency
C. money and luck
D. resources and a good climate
The underground economy consists of ?
The underground economy consists of ?
A. legal transactions
B. part of the rail network
C. legal transactions not declared for tax and illegal activities
D. the water distribution system
Equilibrium in the circular flow of income occurs when ?
Equilibrium in the circular flow of income occurs when ?
A. Injections = withdrawals
B. There is a Bank Holiday
C. Injections withdrawals
D. None of these
Total withdrawals from the circular flow of income include ?
Total withdrawals from the circular flow of income include ?
A. consumption savings and taxes
B. savings government expenditure and imports
C. savings taxes and exports
D. savings taxes and imports
According to the classical economists, the only gainers from growth would be ?
According to the classical economists, the only gainers from growth would be ?
A. landlords
B. peasants
C. The army
D. politicians
Indicate below what is NOT a main macroeconomic goal ?
Indicate below what is NOT a main macroeconomic goal ?
A. Increasing North Sea oil production
B. Reducing unemployment
C. Achieving a sustainable rate of economic growth
D. Reducing inflation
It has become conventional classify a recession as a period where national output falls for _________ or more?
It has become conventional classify a recession as a period where national output falls for _________ or more?
A. three years
B. six months
C. a year
D. two years