Which of the following events will increase GDP?
a. losing $500 playing blackjack in your dorm
b. selling an antique writing desk for $500 cash
c. a burglar stealing your CD player
d. the police department hiring an extra detective to track down the burglar who stole your CD player
D
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External economies of scale often arise because similar firms
A) locate in the same geographic region. B) collude to fix prices and increase profits. C) have excellent internal logistics. D) agree to cooperate to expand global trade. E) have economies of scale in production.
Use the above table. Based on the information in the table, artisan bread is a(n)
A) normal good. B) necessary good. C) inferior good. D) negative good.
The EEC stands for the
a. European Economic Community b. Enactment of Economic Cooperation c. Enforcement of Efficient Commerce d. Energy Efficient Commitment e. Economic Enforcement Compact
The Federal Reserve responded to the 2008 financial crisis in several ways. Which of the following is one of the ways the Fed responded?
A) The Fed banned investment banks from obtaining discount loans. B) The Fed lent investment banks Treasury securities in exchange for mortgage-backed securities. C) The Fed lowered the required reserve ratio on demand deposit accounts in order to increase the amount of bank reserves. D) The Fed helped Citibank to acquire General Motors and Chrysler.