Which of the following federal agencies is NOT engaged in economic regulation?
A) the Federal Reserve
B) Federal Aviation Administration
C) Food and Drug Administration
D) Federal Deposit Insurance Corporation
Answer: C
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The category of "rent" in the income approach to GDP
A) does not have any connection to owner-occupied housing. B) includes the money paid to use land and other rented inputs. C) includes the money paid to rent apartments only. D) includes the money paid to rent machinery only. E) includes only the imputed rent for owner-occupied housing.
Any increase in autonomous consumption is associated with:
a. an equivalent increase in autonomous saving. b. an equivalent decrease in autonomous saving. c. an equivalent increase in the slope of the saving function. d. an equivalent decrease in the slope of the consumption function. e. an equivalent movement along the consumption function.
Since World War II,
a. air pollution has worsened in most U.S. cities. b. many new pollutants have been introduced or identified. c. the federal government has reduced its reliance on economic incentives as a means of reducing pollution. d. All of the above are correct.
________ is the sunk cost for a perfectly competitive firm in the short run, whether the firm produces or shuts down
a. Variable cost b. Fixed cost c. Marginal cost d. Total cost