The misery index is a measure of national economic discomfort that adds together a nation's:
A. Saving and investment
B. Budget deficit and public debt
C. Unemployment rate and inflation rate
D. Level of taxation with the amount of government spending
C. Unemployment rate and inflation rate
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Which of the following is an example of an investment, as described in Chapter 12 of your textbook?
A) The government builds a dam to have a source of hydroelectric power. B) A student attends college. C) A firm builds a new plant. D) all of the above
A commercial bank's reserves are equal to the amount of
A) the bank's loans. B) only the currency in its vault. C) currency in the bank's vault plus the balance on its reserve account at a Federal Reserve Bank. D) the bank's deposits. E) the bank's government securities.
Efficiency wages paid to workers:
A) equal the lowest pay that workers would accept. B) are wages above the lowest pay that workers would accept. C) equal the marginal revenue product of the workers. D) are wages adjusted for changes in the price level.
If there is a decline in world autonomous consumption ________
A) the domestic real interest rate would fall B) domestic investment would rise C) net exports would fall D) all of the above E) none of the above