In 1929, government purchases accounted for
A) only 18.5 percent of U.S. GNP.
B) only 8.5 percent of U.S. GNP.
C) 28.5 percent of U.S. GNP.
D) 38.5 percent of U.S. GNP.
E) 48.5 percent of U.S. GNP.
Correct Answer:
Verified
Q19: Purchases of inventories by
A) firms are not
Q20: GDP is supposed to measure
A) the volume
Q21: Government purchases are defined as
A) only goods
Q22: An open economy
A) can save only by
Q23: Over the 1980s
A) there is no question
Q25: For open economies,
A) S = I.
B) S
Q26: Disposable income is national income
A) less taxes
Q27: Government transfer payments like social security and
Q28: In a closed economy, national saving
A) sometimes
Q29: In a closed economy, private saving, ,
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