5. As opposed to a closed economy, in an openeconomy _______. (Points: 1) the ex

Question

5. As opposed to a closed economy, in an openeconomy _______. (Points: 1)
      the exchange rate is determined by thegovernment
       specialization inactivities with a comparative advantage is not possible
       trade is only beneficial tothe relatively larger economy
       there is trade in goods,services, or assets with other countries


6. Disposable income in a particular periodis _______. (Points: 1)
       total incomeearned
       income earned plusgovernment transfer payments
       income earned plusgovernment transfer payments less taxes
       income earned plusgovernment transfer payments less taxes and savings


7. An example of investment spending would be______. (Points: 1)
       purchase of abond
       purchase of a loaf ofbread
       purchase of a newproductive machine
       all of theabove

Explanation / Answer

6) c) disposable income is what you make (paychecks,government help etc.) minus taxes you pay. 7) C) purchas of a new productive machine. Investment spendingrefers to purchasing of capital goods (equipment and such)

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