Related to the Economics in Practice on p. 431: The economist most closely associated with the development of the National Income and Product Accounts (NIPAs) is
A. Simon Kuznets.
B. John Maynard Keynes.
C. Alan Greenspan.
D. David Ricardo.
Answer: A
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The corporate form of business started to become more prevalent in the United States economy in the late 1700s
Indicate whether the statement is true or false
The practice of spreading one's wealth over a variety of different financial investments in order to reduce overall risk is called:
A. diversification. B. risk reservation. C. following the risk premium. D. allocation.
The higher the future value of the payment the:
A. lower the present value. B. future value doesn't impact the present value, only the interest rate really matters. C. higher the present value. D. lower the present value because the interest rate must fall.
Lilly is the price-taking owner of an apple orchard. The price of apples is high enough that Lilly is earning positive economic profits. In the long run, Lilly should expect:
Select one: a. higher apple prices due to the exit of existing firms. b. lower apple prices due to the exit of existing firms. c. higher apple prices due to the entry of new firms. d. lower apple prices due to the entry of new firms.