Which component of federal spending is included in GDP?
A. net exports
B. transfer payments
C. government purchases
D. capital supply
Answer: C
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
Which of the following is correct?
a. The Federal Reserve is responsible for conducting monetary policy. b. The U.S. Treasury controls the money supply through its buying and selling of U.S. securities. c. The Treasury is a monetary agency with responsibilities very similar to those of the Fed. d. The Federal Reserve System issues U.S. securities.
A relative price is:
A. the price of a specific good in comparison to the prices of other goods and services. B. the percentage change in a price index such as the CPI. C. the rate of inflation. D. a measure of overall prices at a particular point in time.
Which type of business has the least government rules and regulations affecting it?
A) sole proprietorship B) partnership C) corporation D) They all have the same set of rules and regulations affecting them.