The Solow residual is
A. a measure of the proportion of involuntarily unemployed workers.
B. the most common measure of productivity shocks.
C. a measure of the efficiency of the production process.
D. the waste from the production process.
Answer: B
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Which of the following statements correctly differentiates between the slope of the demand curve and price elasticity of demand along a linear demand curve?
A) The price elasticity of demand for a good is the same at different points on the demand curve, whereas the slope of the demand curve varies depending on the point where it is measured. B) The price elasticity of demand for a good varies along the demand curve, whereas the slope of the demand curve remains the same at different points on the curve. C) The price elasticity of demand is a ratio, whereas the slope of a demand curve is a product. D) The price elasticity of demand is a product, whereas the slope of a demand curve is a ratio.
As of October 2012, which of the following was true?
A) deposits of foreign governments and international organizations > bank reserves > currency in circulation B) currency in circulation > bank reserves > deposits of foreign governments and international organizations C) bank reserves > currency in circulation > deposits of foreign government and international organizations D) currency in circulation > deposits of foreign governments and international organizations > bank reserves
Governments usually provide national defense from tax funds because
What will be an ideal response?
The purpose of having the members of the Board of Governors of the Federal Reserve serve fourteen-year terms is to:
A. ensure that the governors become well-experienced at policymaking. B. insulate the governors' policy decisions from the influence of presidential elections and politics. C. promote unity of opinion from shared time together. D. establish long-standing ties with high-level officials of other nations' central banks.