A measurement in terms of current dollar value is called a(n) ________ quantity.
A. indexed
B. real
C. nominal
D. deflated
Answer: C
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In the pre-World War I period, the United Kingdom imported mainly
A) manufactured goods. B) services. C) primary products including agricultural. D) technology intensive products. E) from the United States.
Compared to its position during the late 1970's, the Phillips curve for the U.S. economy in the 1980's appeared to
a. shift to the left. b. shift to the right. c. shift upward. d. remain unchanged.
Which of the following statements is not correct?
a. Part of the deadweight loss associated with monopoly is measured by the monopolist's economic profit. b. Marginal cost is always less than average total cost in a natural monopoly. c. Discount coupons available free to the public are a type of price discrimination. d. Anti-trust laws make it harder for firms to create synergies.
When the Fed buys government securities
A. reserves increase, leading to a decrease in the money supply by an amount more than the purchase of the government securities. B. reserves decrease, leading to a decrease in the money supply by an amount more than the purchase of the government securities. C. reserves decrease, leading to a increase in the money supply by an amount more than the purchase of the government securities. D. reserves increase, leading to a increase in the money supply by an amount more than the purchase of the government securities.