Conceptually, GDP measured by income, product, and value added each equal the same amount.
a. true
b. false
Answer: a. true
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The Federal Reserve influences the level of interest rates in the short run by changing the
A) demand for money through changes in reserve requirements. B) supply of money through open market operations. C) supply of money through changes in stock market operations. D) demand for money through open market operations.
Which of the following government policies ensures market efficiency?
A) subsidy B) tax C) price regulations D) quantity regulations E) None of the above answers is correct.
In two-part pricing
A) consumers pay a lump-sum for all the goods purchased. B) the consumer must pay a lump sum if he buys more than a certain number of units of a good. C) a firm charges more for units purchased on the weekend than for those purchased during the week. D) the average price paid per unit is higher with a small number of units purchased than if a large number of units is purchased.
The income that is available to individuals for consumption or investment is called disposable income
a. True b. False Indicate whether the statement is true or false