Which of the following is less sensitive to interest rate changes?
A. Utility industries.
B. State and local finances.
C. The residential housing market.
D. Food and other household items.
Answer: D
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What is the best measure of the value of output of an economy?
A) NNP B) GNP C) GDP D) the GDP deflator
Personal income less personal taxes is called:
A) personal disposable income. B) national income. C) compensation of employees. D) savings.
If, in the coordination failure model, the nominal money supply acts as a sunspot variable, then it is likely that the nominal money supply would
A) be procyclical. B) be acyclical. C) be countercyclical. D) alternatively appear to be procyclical and countercyclical.
Which of the following is not a cost of decentralization of corporate decisionmaking?
A. More effective use of local knowledge B. Less effective use of central information C. Coordination costs and failures D. Incentive problems