Economic analysis is useful is resolving all of the following types of issues EXCEPT:
A. positive
B. monetary policy
C. normative
D. fiscal policy
Answer: C
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GDP can increase from one year to the next by:
A) increases in prices while quantities of goods and services are constant. B) increases in the quantities of goods and services produced while prices remain constant. C) both prices and quantities of goods and services increase. D) all of the above.
If a borrower and a lender agree on a long-term loan at a nominal interest rate that is fixed over the duration of the loan, how will a higher-than-expected rate of inflation impact the parties if at all?
What will be an ideal response?
100 shares of stock in General Motors is considered which type of resource?
A. land B. labor C. capital D. It is not a resource.
Our merchandise balance of trade has been negative since the
A. 1960s. B. 1970s. C. 1980s. D. 1990s.