The national economic forecast for the next two years prepared by the staff of the Board of Governors is published in the
A) green book.
B) beige book.
C) blue book.
D) Fed book.
A
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Peg's Manicure Manor did 4,000 sets of nails in 2015 and 4,500 sets of nails in 2016. The price of a set of nails was $20 in 2015 and $22 in 2016. If 2015 is the base year, Peg's contribution to nominal GDP in 2015 was ________ and to real GDP in 2015 was ________.
A. $80,000; $80,000 B. $80,000; $88,000 C. $88,000; $90,000 D. $80,000; $99,000
A mutual life insurance company is owned and controlled by its
A) partners. B) managers. C) stockholders. D) policyholders.
A good that is both excludable and rivalrous is a(n):
a. public good. b. club good. c. private good. d. inferior good. e. necessary good.
Land used to grow alfalfa could also be used to grow hay. Which of the following is true when the farmer plants hay and the market price of alfalfa rises?
a. The opportunity cost of producing hay decreases. b. The opportunity cost of producing hay increases. c. There will be no change in the opportunity cost of producing hay. d. The opportunity cost of producing alfalfa increases.