Which of the following statements about GDP is correct?
a. GDP measures two things at once: the total income of everyone in the economy and the total expenditure on the economy's output of goods and services.
b. Money continuously flows from households to firms and then back to households, and GDP measures this flow of money.
c. GDP is generally regarded as the best single measure of a society's economic well-being.
d. All of the above are correct.
d
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In the United States the stake of top management in firms' ownership usually is
A) less than 5%. B) more than 25%. C) more than 50%. D) more than 75%.
During a banking crisis during the period of free banking, the unexpected surge in the demand for money in the form of specie would cause bankers to call in loans which would, in turn, squeeze credit, slow output and increase unemployment
Indicate whether the statement is true or false
The Robinson-Patman Act amended and further refined which of the following laws?
a. the Sherman Antitrust Act b. the Cellar-Kefauver Act c. the Clayton Act d. the FTC Act e. the Herfindahl-Hirschman Act
Which of the following is correct?
a. An increase in the tariff on foreign-produced automobiles will benefit U.S. consumers of domestic cars. b. An ongoing result of the North American Free Trade Agreement is that producers in both countries will benefit at the expense of consumers. c. The wages of U.S. workers would sharply decline if we traded freely with low-wage countries like India and China. d. Exports provide a nation with its primary source of purchasing power used to buy imported goods.