According to the National Bureau of Economic Research, the "two most reliable comprehensive estimates of aggregate domestic production" are ________ when dating the beginning and ending of recessions
A) the level of employment and monthly payroll data
B) industrial production and wholesale and retail sales
C) gross domestic product and gross domestic income
D) real manufacturing production and the natural rate of unemployment
C
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To determine whether the goal of stable prices is being achieved, the Federal Reserve monitors
A) the core PCE deflator inflation rate. B) the core GDP deflator inflation rate. C) the GDP price deflator. D) the producer price index. E) the CPI.
If the moral hazard problem in automobile driving were to be eliminated, the marginal cost of driving would be
A) lowered enough to pull the amount of driving back down to the efficient level. B) lowered enough to raise the amount of driving back up to the efficient level. C) raised enough to pull the amount of driving back down to the efficient level. D) raised enough to raise the amount of driving back up to the efficient level. E) lowered back down to the efficient level, relieving the stress on market forces.
The Federal Deposit Insurance Corporation insures demand deposit accounts so that, in the event of a bank failure, depositors will not lose any money
Indicate whether the statement is true or false
Compared with a perfectly competitive firm facing the same costs, long-run equilibrium for a monopolistically competitive firm will result in
A. a higher price and less output. B. a lower price and less output. C. a higher price and greater output. D. a lower price and greater output.