An example of a leading variable in the US is
A) GDP.
B) investment is structures.
C) the consumer price index.
D) housing starts.
D
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According to this Application, a bank will be required to develop an analytical model to determine what would happen if there was a ________ change in economic conditions, such as a large ________ in unemployment
A) positive; decrease B) negative; decrease C) positive; increase D) negative; increase
When voluntary exchange takes place, neither party usually gains from the exchange
Indicate whether the statement is true or false
If Slovenia is a large country in world trade, then if it imposes a large set of tariffs on many of its imports, this would
A) improve its terms of trade. B) have no effect on its terms of trade. C) harm its terms of trade. D) decrease its marginal propensity to consume. E) increase its exports.
Which of the following statements concerning utility as a measure for well being are false?
A) There is generally a positive relationship between income and utility. B) It is possible to determine which of two individuals is made happier by consuming a particular market basket. C) Utility is an abstract representation of an individual's degree of happiness. D) Cross country studies suggest that citizens in wealthier countries are happier than citizens in poorer countries.