Although ________ initially proposes and ultimately approves the budget, the discussion and amendment process rests with ________
A) the U.S. Treasury; Congress
B) Congress; the President
C) Congress; the Federal Reserve
D) the Senate; the President
E) the President; Congress
E
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In July 2008, the Federal Communications Commission approved the merger of satellite radio providers XM Satellite and Sirius Satellite Radio, establishing a single satellite radio company in America
Under the terms of the deal, the companies agreed not to raise prices for the next three years. Why would the FTC require prices not to increase for three years? A) Compared to competition, monopolies are always worse for consumers. B) Compared to competition, monopolies restrict output and charge higher prices. C) Compared to competition, monopolies increase prices and output. D) Compared to competition, monopolies restrict output and charge lower prices.
A firm that sells at a price below average cost is losing money.
Answer the following statement true (T) or false (F)
When money is accepted as payment in a market transaction, it is functioning as a
A. unit of accounting. B. unit of investment. C. store of value. D. medium of exchange.
The economic growth model predicts that the
A. level of per capita GDP in poor countries will decrease over time and the poor nations will not be able to catch up with the rich nations. B. rich countries will have stagnant growth and will catch up with the poor countries, so that there will be a convergence toward a "poverty trap" C. level of per capita GDP in rich countries will increase so fast that it will be difficult for poor countries with low income per capita to ever catch up with the rich countries D. level of per capita GDP in poor countries will increase faster than rich countries and the poor nations will catch up with the rich nations