The slope of the consumption function is equal to the level of autonomous consumption
Indicate whether the statement is true or false
FALSE
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A primary objective of labor unions is to
A) secure equal pay for its members. B) have equal power with their employer. C) seek better pay and improved work conditions. D) all of the above. E) none of the above.
If the Fed increases the required reserve ratio at a time when banks are holding excess reserves, then: a. the Fed's aim is to increase the money supply
b. banks are likely to lend out more money than they would if the Fed left the reserve ratio alone. c. banks are likely to earn higher profits than they would. d. the money supply will not increase as much as it would if the Fed left the reserve ratio alone. e. the Fed's aim is to conduct open market operations without changing the money supply.
Which of the following factors contribute to economic growth?
a. a decline in the stock of physical capital b. the discovery of new oil reserves c. a decrease in the productivity of labor d. a decrease in the quantity of labor due to emigration
Double counting in the resource cost-income approach to GDP statistics is avoided by
a. correct accounting of the values of exports and imports b. choosing only one method to calculate GDP--either the income or the expenditures method c. counting only the value added at each stage of a good's production process d. counting the value of final and intermediate goods and services e. subtracting the total value of intermediate goods and services from the total value of final goods and services