Which of the following is responsible for controlling the money supply?
A) the Congress
B) the Supreme Court
C) the Federal Reserve
D) the president
C
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Which of the following is an example of a normative economic statement?
a. The inflation rate in the United States decreased 4 percent because the price of energy fell. b. The economy grew at an annual rate of 5 percent during the first quarter of this year. c. If two automobile companies merge, the price of automobiles will rise. d. An increase in international trade benefits some workers but hurts others. e. The minimum wage should be increased so that low-income workers can afford to keep up with the cost of living.
In a closed economy private saving is $500 billion and the government budget deficit is $100 billion. What is investment?
In 2012, the United States imposed antidumping and countervailing duties totaling 24% and 36%, respectively, on imports of solar panels from two groups of Chinese solar panel exporters. Which of the following describes the process that led to these duties?
I. The U.S. Department of Commerce determined that China was dumping and subsidizing solar panels in the U.S. market II. The U.S. International Trade Commission determined that Chinese solar panel imports caused material injury to U.S. solar panel producers. III. The World Trade Organization determined that China was dumping and subsidizing solar panels in the U.S. market a. I and II b. I and III c. II and III d. I, II, and III
Suppose a jar of orange marmalade that is ultimately sold to a customer at The Corner Store is produced by the following production process: Name of CompanyRevenuesCost of Purchased InputsCitrus Growers Inc.$0.750Florida Jam Company$2.00$0.75The Corner Store$2.50$2.00What is the value added of Citrus Growers Inc.?
A. $0.50 B. $0.75 C. $1.75 D. $0.00