The annual rate of inflation can be found by subtracting:
A. the real income from the nominal income.
B. last year's price index from this year's price index.
C. this year's price index from last year's price index and dividing the difference by this year's
price index.
D. last year's price index from this year's price index and dividing the difference by last year's
price index.
D. last year's price index from this year's price index and dividing the difference by last year's
price index.
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When government outlays are less than tax revenues, the government has
A) a budget with a negative debt. B) a budget deficit. C) a budget with a positive balance. D) an illegal budget because outlays must exceed tax revenues. E) a budget surplus.
Retained earnings are
A. Direct increases to shareholder wealth. B. The amount of corporate profit not paid out in dividends. C. The only motive for purchasing stock. D. Equal to corporate profits.
In the simple deposit expansion model, an expansion in checkable deposits of $1,000 when the required reserve ratio is equal to 10 percent implies that the Fed
A) sold $1,000 in government bonds. B) sold $100 in government bonds. C) purchased $1000 in government bonds. D) purchased $100 in government bonds.
Diseconomies of scale exist over the range of output for which the long-run average cost curve is:
a. constant. b. falling. c. rising. d. none of these.