The four categories of final users of GDP are:
A. households, firms, governments, and the foreign sector.
B. businesses, corporations, firms, and farms.
C. businesses, firms, governments, and the foreign sector.
D. households, the Federal Reserve, governments, and the foreign sector.
Answer: A
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Which of the following are considered factors of production used to produce goods and services?
I. Land II. Labor III. Capital IV. Entrepreneurship A) I and II only B) I and III only C) I, II and III only D) I, II, III and IV
The twelve district banks of the Federal Reserve System were created to decentralize power and to respond to the public's fears of the monopoly power of a single central bank such as the Bank of England or the Bank of Japan
a. True b. False Indicate whether the statement is true or false
Other things the same, if the U.S. price level rises, then
a. the supply of dollars in the market for foreign-currency exchange increases, so the exchange rate rises. b. the supply of dollars in the market for foreign-currency exchange increases, so the exchange rate falls. c. the supply of dollars in the market for foreign-currency exchange decreases, so the exchange rate rises. d. the supply of dollars in the market for foreign-currency exchange decreases, so the exchange rate falls.
Economic efficiency
What will be an ideal response?