Which of the following would be counted in the U.S. GDP for 2015?
A. A 2015 Ford Fiesta made in Mexico
B. The $5,000 an investor used to purchase stock in Home Depot in the Fall of 2015
C. Ford buying tires from Goodyear for new Ford Mustangs
D. Clothing produced at a boutique shop in LA for the Fall 2015 fashion week
Answer: D
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A decrease in ________ leads to an equal ________ in the monetary base in the short run
A) float; increase B) float; decrease C) Treasury deposits at the Fed; decrease D) discount loans; increase
Because firms in an oligopoly are interdependent, they attempt to maximize revenues rather than profits
a. True b. False
The gasoline tax is based on the principle of
a. cost of service. b. benefit received. c. ability to pay. d. equality of sacrifice.
One benefit of automatic stabilizers is that they
a. decrease consumption during a recession below what it would otherwise be b. make GDP more volatile c. cause the cyclical deficit to fall during a recession d. increase consumption during a recession above what it would otherwise be e. increase consumption during an expansion above what it would otherwise be