An example of a good whose production is counted in this year's GDP is
a. a share of corporate stock
b. a used book
c. an acre of farm land
d. a used car
e. a new shirt
E
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If the Fed decides to reduce bank reserves, it can
A) purchase government bonds. B) extend discount loans to banks. C) sell government bonds. D) print more currency.
Each of these is a basic characteristic of a capitalist economy, except
A. the institution of private property. B. central planning. C. laissez-faire. D. individuals acting in their own self-interest.
Thomas Malthus argued that
A) Population grows at an arithmetic rate. B) Population growth would exceed the growth in the food supply. C) Production grows at a geometric rate. D) None of the above.
Dumping of goods abroad:
A. constitutes a general case for permanent tariffs. B. may be part of a firm's price discrimination strategy. C. may be part of a nation's strategy to rectify its trade deficit. D. drives up prices of the dumped goods.