Industrial policy involves governments using taxes, subsidies, and regulations to nurture the development of specific industries
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following must a firm in a market economy do today to succeed?
A) efficiently organize production B) produce existing goods and services at a lower cost C) produce new or better goods or services D) Market firms today must do all of these things.
The Fed uses a "core" price index, one that excludes food and energy prices to measure inflation. It does so because
A) food and energy have inelastic demand curves and consumers will buy them regardless of their price. B) food and energy prices have wide swings that are not related to the causes of general inflation. C) food and energy prices do not change all that much during the short run, so are irrelevant to the calculation of inflation. D) it wants to avoid the blame for high gasoline prices causing inflation.
An enterprise that has only one shareholder does not constitute a corporation
a. True b. False Indicate whether the statement is true or false
The reserves of financial institutions:
a. Are assets that financial institution's try to keep at the legal limit. b. Are made up mainly of government securities and high quality corporate bonds. c. Include the liability called "Borrowing from the central bank." d. None of the above is correct. e. Are the largest liability in a financial institution's balance sheet.