Relationship-specific exchange:
A. occurs because of specialized investments.
B. reduces worker shirking.
C. makes firms use spot markets.
D. is a consequence of profit sharing.
Answer: A
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GDP data alluding to the start of a recession in January 2015 was published and analyzed by the Fed in July 2015
The Fed held meetings to formulate a monetary policy to deal with the recession, and then it enacted the chosen policy in September 2015. It was December 2015 before the policy actually began to affect the economy. The three-month period from September 2015 to December 2015 exemplifies a(n) A) recognition lag. B) implementation lag. C) impact lag. D) liquidity lag.
Inventories include each of the following except
A) unsold finished goods. B) goods in process. C) raw materials held by firms. D) office equipment.
How does the deadweight loss occur in a deficiency payment program?
If the percentage of income paid in taxes increases as income rises, then the tax system is
A. Progressive. B. Regressive. C. Nominal. D. Marginal.