Question
Please answer the following questions. Need an expert in macroeconomics. 1.) When two people trade a. They both expect to be made better off by
Please answer the following questions. Need an expert in macroeconomics.
1.) When two people trade
a. They both expect to be made better off by the exchange
b. They know that one of them will be better off than the other
c. They are trying to help out each other
d. Both of them expect to be worse off by the exchange
2.) If a wealthy woman marries her butler, quits paying him even if he still does the same job, and does not hire a new butler, then
a. GDP definitely decrease
b. GDP definitely does not change
c. GDP increases
d. GDP either does not change or increases
3.) Disposable income is total income
a. Minus net taxes
b. Minus taxes
c. Plus net taxes
d. Plus transfer payments
4.) When taxes are lump sum, tax revenues ___ as income increases
a. Will not change
b. May either increase or decrease depending on tax rate
c. Will decrease
d. Will increase
5.) Barter requires the
a. Exchange of goods and services directly for other goods and services
b. Use of money as a unit of account
c. Use of fiat money as medium of exchange
d. Use of commodity money as medium of exchange
6.) In island H, personal income is $680 billion, personal income taxes are $170 billion, and personal savings is $20 billion. The disposable income is
a. 510
b. 570
c. -570
d. 680
7.) In island H, personal income is $680 billion, personal income taxes are $170 billion, and personal savings is $20 billion. The personal saving rate is ()
a. 3.92%
b. 2.91%
c. 27.93%
d. 11.90%
8.) The economy is experiencing widespread unemployment. A macroeconomic student at a university might suggest the government to
a. Decrease taxes
b. Decrease government spending
c. Decrease government deficit
d. Increase investment spending
9.) Which of the following would an economist classify as capital?
a. Computer used by an accountant
b. Public corporation's employees
c. A share of stock
d. A deposit of silver
10.) A commercial bank is defined as
a. Any institution that accepts deposits
b. A firm that is chartered to accept deposits and make loans
c. The institution that set regulations for commercial activities
d. A firm that obtains funds by selling shares and then buy US treasury bills
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started