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

question 57

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 part of total spending.
• C) GDP = C + I.
• D) budget and trade deficits are important parts of the model of the economy.

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Definitions:

Psychological Laboratories

Facilities specially designed for conducting research and experiments in psychology.

Reaction Time

The amount of time it takes for an individual to respond to a stimulus, often used in psychological and physiological testing.

Language Ability

The capacity to understand, produce, and use language effectively for communication.

Interest Inventories

These are psychological assessment tools used to measure a person's preferences, interests, and areas of potential satisfaction in various occupational settings.