COLA provisions automatically increase wages or benefits to match
A. inflation.
B. the cost of living.
C. deflation.
D. disinflation.
Answer: A
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Income and revenue from taxes have a specific relationship during recessions. What is it?
A) incomes fall, tax revenue increases B) incomes rise, tax revenue decreases C) incomes fall, tax revenue decreases D) incomes rise, tax revenue increases
An option may add value to a transaction because:
a. interest charges are reduced. b. the price of the good is reduced. c. additional information may become available. d. options provide buyers with monopsony power.
Suppose the Federal Reserve wants to increase the money supply. Which combination of actions would lead to the appropriate effect?
a. Increase the discount rate, decrease the reserve ratio, sell bonds. b. Increase the discount rate, decrease the reserve ratio, buy bonds. c. Decrease the discount rate, decrease the reserve ratio, buy bonds. d. Decrease the discount rate, increase the reserve ratio, buy bonds. e. Decrease the discount rate, decrease the reserve ratio, sell bonds.
What is meant by the term economic profits?
a. total revenues minus explicit and implicit costs b. total revenues plus implicit and explicit costs c. average total costs minus total implicit costs d. total explicit costs minus total revenues