Which group within the National Bureau of Economic Research officially determines whether the economy is in a recession or expansion?
A. The G-4
B. The Business Cycle Governors
C. The Turning Point Group
D. The Business Cycle Dating Committee
Answer: D
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Partial crowding out implies that a government deficit financed by selling bonds to the non-bank public will
A) have no effect on aggregate demand. B) reduce aggregate demand. C) increase aggregate demand. D) reduce aggregate demand in the short run but cause demand to increase in the long run.
Which of the following mergers would most likely be challenged by the Federal Trade Commission?
A) two restaurants in a large metro area B) two largest wireless service providers in the U.S. wireless communication industry C) an automaker and an insurance company D) one oil refinery in the U.S. and another oil refinery in Canada
Which of the following steps does not belong to the sequence of events reflecting the finance of a large government budget deficit? a. The U.S. Treasury sells securities
b. The sale of securities drives up interest rates. c. Attracted by the high interest rates, foreigners purchase dollars in order to invest in the U.S. d. Greater demand for the dollar increases its value relative to other currencies. e. The rising value of the dollar leads to increased U.S. exports and reduced U.S. imports.
If it takes one country three units of labor to produce a computer and two units of labor to produce a TV, but it takes the other country four units of labor to produce a computer and five to produce a TV, then the first country has
A. an absolute advantage in TVs but a comparative advantage in computers. B. an absolute advantage in TVs and computers but a comparative advantage in TVs only. C. an absolute advantage in TVs and computers but a comparative advantage in computers only. D. a comparative advantage in both goods.