The primary value of data for real GDP lies in its ability to
What will be an ideal response?
indicate short-term changes in the output rate of a nation
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Gross domestic product is the money value of manufacturing production in a year.
Answer the following statement true (T) or false (F)
List the Fed's four main monetary goals
What will be an ideal response?
Which economic concept explains why a large drugstore chain can produce at a lower average cost than Whoville Pharmacy, an individually owned drugstore?
a. increasing marginal returns b. diminishing marginal returns c. economies of scale d. diseconomies of scale e. constant returns to scale
The regional Federal Reserve bank presidents are:
A. selected by the Federal Reserve Board of Directors. B. allowed to serve no more than two consecutive four-year terms. C. are responsible for regulatory oversight and implementation of monetary policy of regional banks. D. directly affiliated with other governmental agencies.