Which of the following is NOT an example of a flow variable?
A. inventory investment
B. planned investment
C. The federal deficit
D. capital stock
Answer: D
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The economics of slavery suggests that
(a) slave labor produced efficiencies in Southern agriculture. (b) slave owners possessed economic incentives to beat and exploit their slaves. (c) Southern agriculture was less profitable than northern farming. (d) Southern agriculture was just and moral.
Which of the following is NOT a feature of a monopolistically competitive market?
A) numerous buyers and sellers B) differentiated products C) advertising D) a homogeneous product
Based on most observations, what are the effects on government budgets from the national health care program?
A) Tax revenues will not flow into the new program immediately. B) The federal government ultimately will have to search for ways to reduce its health care expenditures. C) Federal government expenditures on the program are being phased in immediately. D) the federal government ultimately will lower taxes since the program's cost will decline over time.
When the official dollar price of a foreign currency is set below its equilibrium level, the foreign currency
A) has been depreciated. B) is overvalued. C) is undervalued. D) is devalued. E) is revalued.