The management of money and interest rates is called ________ policy and is conducted by a nation's ________ bank
A) monetary; superior
B) fiscal; superior
C) fiscal; central
D) monetary; central
D
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Refer to Table 8-17. What is nominal GDP in 2016?
A) $3,320 B) $3,690 C) $6,360 D) $7,035
In the long run, the perfectly competitive firm
A) does not have a shut down price. B) earns only a normal profit. C) may produce even if it suffers a loss. D) earns an economic profit.
In terms of the world as a whole, imports must equal exports because
A. Every good exported by one country becomes an import for another country. B. The United Nations requires it. C. Most countries, other than the United States, have a balanced trade situation. D. It is part of international law.
The "invisible hand" concept refers to the:
A. Guiding function of prices in a market system B. Implicit influence that the government has on the actions of firms C. Regulatory structure that markets must operate in D. Underlying money flows that promote the trading of goods and services