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

Leakages from the circular flow are _________ and __________? A. investment, savings, government expenditureB. 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 ? A. 3>2>1B. 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 ? A. resources and efficiency B. money and efficiency C. money and luck D. resources and a good climate

The underground economy consists of ? A. legal transactions B. part of the rail networkC. legal transactions not declared for tax and illegal activities D. the water distribution system

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 ? A. consumption savings and taxes B. savings government expenditure and imports C. savings taxes and exportsD. savings taxes and imports

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 ? A. Increasing North Sea oil productionB. 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? A. three yearsB. six months C. a year D. two years