Which of the following is the main barometer used by the Business Cycle Dating Committee of the National Bureau of Economic Research in determining if the economy has reached a peak?
A. Employment, based on non-farm payrolls
B. Industrial production
C. Personal income minus government transfer payments
D. Manufacturing and trade revenue
A. Employment, based on non-farm payrolls
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Refer to the above table. Which country had the highest growth rate of real Gross Domestic Product (GDP) from 2014 to 2015?
A) A B) B C) C D) D
If a used-car dealer enjoys economic profits, then
A) as a group, its customers necessarily suffered a like amount in economic losses. B) as a group, its customers were necessarily made worse off. C) as a group, its competitors necessarily suffered economic losses. D) all of the above are true. E) none of the above is true.
If a market produces a level of output that exceeds the competitive equilibrium output, then
A) social welfare will be higher. B) producer surplus will be higher. C) marginal cost will exceed price. D) All of the above.
Which of the following is not true concerning a currency bailout?
A. It can help avoid a domino effect of depreciating currencies in other economies. B. It occurs when money is lent to an economy to increase or maintain the value of its currency. C. The expectation of a bailout can encourage policies that lead to a currency crisis. D. The International Monetary Fund will bail out any nation with a devaluing currency.