According to Keynes, what determines business spending?
a. Expectations of future sales and interest rates
b. Expectations of future profits and costs
c. Expectations of future profits and interest rates
d. Expectations of future profits and future costs
c. Expectations of future profits and interest rates
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Which is the most popular tool of the Fed used to control the stock of money?
A) Manipulating reserve requirements. B) Buying and selling government bonds. C) Manipulating the discount rate. D) Issuing new U.S. Treasury bonds.
A(n) ________ comes to an end with a business cycle ________
A) expansion; bubble B) expansion; trough C) recession; peak D) recession; trough
No clearly defined socially preferred outcome may result when majority voting on outcomes because
A) often voters don't understand the outcomes. B) voting may violate the independence of irrelevant alternatives. C) voting may lead to incomplete preferences. D) voting may lead to non-transitive preference.
Allied Business Consultants employs five researchers that each work 8 hour days. In one day the researchers prepared 10 reports for its 2 largest clients. What was Allied Business Consultants' productivity?
a. 10 reports b. 5 reports per client c. 1.25 reports per hour d. 1/4 report per hour