At a recent company meeting, Geraldine Erwin, sales manager of Dastoria, a flavored-beverage producer announced, "We have increased our sales by 8 percent in just six months"
Suppose six months ago, its sales amounted to $452,000, what is the value of its sales today?
A) $36,160 B) $415,840 C) $488,160 D) $565,000
C
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Discretionary fiscal policy is so named because it
A) is undertaken at the order of the nation's central bank. B) involves specific changes in taxes and government spending undertaken by Congress and the president. C) occurs automatically as the nation's level of GDP changes. D) involves secret advice given by the Council of Economic Advisers to the president.
Constructing an accurate cost-of-living index is difficult because:
A. consumers have different tastes. B. prices of different goods change by different proportions. C. prices of different goods change by the same proportions. D. real and nominal income tend to move together.
As a group, oligopolists would always be better off if they would act collectively
a. as if they were each seeking to maximize their own individual profits. b. in a manner that would prohibit collusive agreements. c. as a single monopolist. d. as a single perfectly competitive firm.
All of the following would be included in planned aggregate expenditure EXCEPT:
A. sales to foreigners of domestically-produced goods. B. social security payments. C. planned changes in inventories. D. purchases of services provided by government employees.