The government's chief forecasting gauge for business cycles is the:
A. unemployment rate.
B. real GDP.
C. personal income index.
D. index of leading indicators.
Answer: D
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Prior to 1980, member banks left the Federal Reserve System due to
A) the high cost of discount loans. B) the high cost of required reserves. C) a desire to avoid interest rate regulations. D) a desire to avoid credit controls.
A firm using Baumol's model will do one of the following if the interest rate on short-term securities went up.
A) increase the collection period B) decrease the average cash balance C) increase the average cash balance D) decrease the collection period
Jan has an income of $30,000 and pays $4,500 in taxes. When Jan's income rises to $40,000, her tax bill rises to $6,500. What is Jan's marginal tax rate?
A. 5 percent. B. 15 percent. C. 16.25 percent. D. 20 percent.
Which of the following statements is true?
A. The doctrine of laissez-faire advocates an economic system with extensive government intervention and little individual decision-making. B. In capitalism income is distributed on the basis of need. C. Adam Smith was the father of socialism. D. Most real-world economies are mixed economic systems.