From the last five recessions, the mildest two were
A) 1975 and 2008-09 recessions.
B) 1981-82 and 2008-09 recessions.
C) 1990-91 and 2001 recessions.
D) 1975 and 2001 recessions.
C
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Gross domestic product (GDP) includes:
a. intermediate as well as final goods. b. foreign goods as well as domestically produced goods. c. used goods sold in the current time period. d. only final goods and services.
An over-the-counter (OTC) market is:
A. made up of dealers who buy and sell for their customers and for their own accounts. B. made up of dealers who only sell government bonds. C. an example of a centralized market. D. made up of dealer who buy and sell only for their own accounts.
What are the twin goals of the Federal Reserve Bank?
a) Low unemployment and zero inflation. b) No unemployment and stable prices. c) Low unemployment and stable prices. d) No unemployment and zero inflation.
Answer the following statement true (T) or false (F)
1) The wants of consumers are expressed in the product market with "dollar votes." 2) Costs can be defined as total payments made to workers, land owners, and capital suppliers less payments to the entrepreneur for organizing and combining the other resources used to produce a good. 3) Continued losses in an industry will cause some firms to reduce output or eventually leave the industry. 4) The guiding function of prices tends to keep resources flowing toward their most highly valued uses.