Which of the following is not true about the composition of GDP in 2016?
A) The majority of consumer spending is on durable goods.
B) Purchases made by state and local governments are greater than purchases made by the federal government.
C) Imports are greater than exports.
D) Business fixed investment is the largest component of investment.
Answer: A
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Which of the following has NOT resulted from more active liability management on the part of banks?
A) increased bank holdings of cash items B) aggressive targeting of goals for asset growth by banks C) increased use of negotiable CDs to raise funds D) an increased proportion of bank assets held in loans
The learning curve indicates that
A) economies of scale are taking effect. B) repetition of various production tasks cause unit costs to decrease. C) workers must learn new skills in order to improve. D) it takes time to learn a new skill.
Which of the following observations concerning the absolute definition of poverty is true?
a. It is based on average income. b. It is an optimistic definition. c. It is not arbitrary in nature. d. It is a cultural definition.
The Cournot theory of oligopoly is based on the assumption that each firm believes that rivals will:
A. increase their output whenever it increases its output. B. keep their output constant if it changes its output. C. decrease their output whenever it increases its output. D. randomly change output whenever it changes its output.