If There Is No Government and No Foreign Sector in the Economy

question 159

Multiple Choice

If there is no government and no foreign sector in the economy

• A) personal income and disposable personal income are unequal.
• B) international trade is an important component of total spending.
• C) gross domestic product equals consumption plus investment.
• D) budget and trade deficits are important parts of the model of the economy.

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Definitions:

Reasonable Care

The degree of caution and concern an ordinarily prudent and rational person would use in similar circumstances.

Conditional Privilege

A special right, immunity, permission, or benefit given to certain individuals that allows them to make any statements about someone without being held liable for defamation for any false statement made without actual malice.

Defamation

A wrongful act of communicating false statements about a person that injure the person's reputation or good name.

Actual Malice

In defamation, either a person's knowledge that his or her statement or published material is false or the person's reckless disregard for whether it is false.