Normative analysis focuses on statements that can be tested against real-world data
a. True
b. False
Indicate whether the statement is true or false
False
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Nominal GDP uses current year prices to measure GDP
Indicate whether the statement is true or false
When businesses are cutting back production, then it probably true that
a. total spending is greater than total output. b. total output is greater than total income. c. total spending is less than total output. d. inventory levels are decreasing.
The fact that there is a market for federal funds enables banks to:
A. hold a lower level of excess reserves than they would otherwise hold. B. hold less in required reserves. C. borrow more from the Fed. D. make fewer loans than they would otherwise.
Which of the following is an advantage of starting a new business as a corporation?
A) ease in setting up B) low expenses of legally organizing C) double taxation D) greater ability to raise funds