In the United States, which institution is primarily responsible for inspecting credit unions?
a. Federal Reserve
b. Office of the Comptroller of the Currency
c. National Credit Union Administration
d. Federal Deposit Insurance Corporation
c. National Credit Union Administration
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Which of the following determines whether a firm will earn higher revenues when it raises its price?
A. The price elasticity of demand. B. Government regulation of the industry. C. The cost of the firm's inputs. D. None of the above, because companies always earn higher revenues when they increase price.
The "crowding-out" effect refers to the fact that
A) fiscal policy cannot be used to shift the IS curve.
B) rising interest rates tend to accompany an expansionary fiscal policy.
C) there may be a liquidity trap.
D) All of these.
Assume an economy is producing only one product. Year 2 is the base year. Output and price data for a five-year period are given.YearUnits of OutputPrice Per Unit14$425537849951010Refer to the above data. If year 2 is chosen as the base year, the real GDP for year 1 is:
A. $20. B. $25. C. $4. D. $16.
The type of unemployment that occurs because of a recession is called:
A. frictional unemployment. B. seasonal unemployment. C. natural unemployment. D. cyclical unemployment.