The BEA is the
A. Bureau of Educational Administration.
B. Bureau of Educational Analysis.
C. Bureau of Economic Alliances.
D. Bureau of Economic Analysis.
Answer: D
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An increase in wealth would cause the IS curve to
A) shift up and to the right. B) shift down and to the left. C) remain unchanged. D) shift up and to the right only if people face borrowing constraints.
What condition must be met in order for total spending to equal total output?
a. The sum of saving and government purchases must equal the sum of planned investment and net taxes. b. The sum of saving and net taxes must equal the sum of planned investment and government purchases. c. The sum of saving and planned investment must equal the sum of government purchases and net taxes. d. Saving must equal net taxes. e. The sum of saving and net taxes must equal planned investment minus government purchases.
The optimal level of employment for a monopsonist is set at the point where the
A. marginal factor cost equal to the MRPL. B. supply of labor equals the marginal factor cost. C. wage rate equals the VMPL. D. wage rate equals the marginal factor cost.
The United States economy experienced stagflation during the
A. 1950s. B. 1960s. C. 1970s. D. 1990s.