Suppose that Rockport Shoes planned to produce and sell $200 million of shoes in 2003, but by year's end was able to sell only $180 million. The remaining unsold $20 million would be recorded as
a. personal consumption expenditures
b. a business loss
c. an addition to business inventory
d. an increase in disposable income
e. a part of the underground economy
C
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The Solow residual is
A) the waste from the production process. B) the most common measure of productivity shocks. C) a measure of the efficiency of the production process. D) a measure of the proportion of involuntarily unemployed workers.
The U.S. imposed high tariffs in the early nineteenth century in retaliation for British tariffs imposed on American goods
Indicate whether the statement is true or false
A market which consists of many sellers and only one buyer is called a:
A. monopsony. B. monopoly. C. oligopoly. D. monopolistic competitor.
If the nominal interest rate is 5 percent and there is no inflation, then the real interest rate:
a. exceeds 5 percent. b. is less than 5 percent. c. is 5 percent. d. is zero.