The last time the United States experienced hyperinflation was during:
A. the Great Depression.
B. the Civil War.
C. World War II.
D. the oil crisis of the 1970s.
Answer: B
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Which of the following is not an example of a final good or service (from the perspective of the national income accounts)?
A. A new string trimmer purchased by Green Grass Lawn Care Services, which employees will use to maintain customer's yards B. Seedlings and saplings purchased for resale by Wendy's Garden Center C. New lawn mowers sold to consumers by Cut-Rite Lawn Equipment & Supplies in their retail store D. Flowers and pots purchased by homeowner Joe Smith for his garden
You are in the business of producing and selling hamburgers, french fries, pizza, and ice cream. The mayor plans to impose a tax on one of these products
Based on the elasticities in the above table, as a profit-minded business person who seeks to avoid taxes whenever possible, which good would you least like to have taxed? A) hamburgers B) pizza C) French fries D) ice cream
The value of consumption at each level of disposable personal income, all other determinants of consumption unchanged, is shown by the:
a. aggregate dissaving curve. b. consumption function. c. investment schedule. d. savings function.
In international finance, hedging indicates:
a. not being able to make a commitment to buy or sell. b. delaying a purchase of foreign exchange, hoping the price will fall. c. simultaneously buying several currencies to ensure that at least one will rise in value. d. avoiding risk of loss by offsetting an obligation to buy a foreign currency by locking in a contract to sell it at the same time.