The system of measurement for expressing macroeconomic data is called
A. national income accounting.
B. balance of payment accounting.
C. generally accepted accounting principles.
D. double entry bookkeeping.
Answer: A
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In which year was the Federal Deposit Insurance Corporation (FDIC) established?
A) 1929 B) 1933 C) 1913 D) 1951
Limit pricing refers to
A) the fact that a monopoly firm always sets the highest price possible. B) how the price is determined in a kinked demand curve model of oligopoly. C) a situation in which a firm might lower its price to keep potential competitors from entering its market. D) none of the above.
The short-run Phillips curve is ________ than the long-run Phillips curve
A) flatter B) steeper C) less stable D) Both B and C are correct.
An increase in the U.S. cattle herd in Texas because of favorable market conditions will
A. shift the supply curve of US corn to the right. B. shift the supply curve of US corn to the left. C. shift the demand curve for US corn to the right. D. shift the demand curve for US corn to the left.