Which of the following is TRUE regarding the chain-weighted output index method?
I. It is the method used to measure the growth rate of nominal GDP.
II. It uses data from the current year and from the previous year.
III. It is a method of measuring the growth rate of real GDP.
A) I and II
B) II and III
C) I and III
D) I, II and III
B
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Decision making in the corporate hierarchy is a lot more spread out in _______ while CEOs are much better paid in _______.
A. the United States than in Japan; the United States than in Japan B. Japan than in the United States; Japan than in the United States C. the United States than in Japan; Japan than in the United States D. Japan than in the United States; the United States than in Japan
Suppose you have just opened a store to sell espresso machines. Both you and a competing store buy this machine from a manufacturer for $130 each
Your competitor who has a store of the same size as yours is currently selling about 10 machines a month at a price of $200 per machine. You expect to sell about 6 machines a month at a price of $220 per machine. If you lower your price, you expect to make a loss. Which of the following could explain why your competitor is able to profitably sell the machine at a lower price although the cost of purchasing the machine is the same for the both of you? A) The competing store probably has a lower marginal cost of production. B) The competing store's goal is to maximize revenue and not profit. C) The competing store probably has a lower average cost because average fixed cost falls as output increases. D) The competing store probably has a lower average variable cost of production.
If the Fed wishes to increase the money supply it can
A) increase reserve requirements. B) sell securities to banks and/or the public. C) increase the rediscount rate. D) None of the above is correct.
Since the 1970s, the percentage of total income earned by the poorest 20 percent of American families has fallen
a. True b. False Indicate whether the statement is true or false