Intermediate goods and services are:
A. used only as inputs to produce something else and are not counted as separate items in GDP.
B. goods that consumers buy in parts-like a new tire for their car-and are included as separate items in GDP.
C. used only as inputs to produce something else and are counted as separate itemsin GDP.
D. goods that consumers buy in parts-like a new tire for their car-and are not included as separate items in GDP.
A. used only as inputs to produce something else and are not counted as separate items in GDP.
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Which of the following is an unconventional monetary policy?
a. lending to banks in unprecedented volume b. lending to companies other than banks c. reducing the federal funds rate to zero d. All of these are unconventional monetary policies.
The classical economist holds that interest rates are set by
A. the government. B. banks. C. supply and demand. D. None of the choices are correct.
With voluntary exchange, a buyer and seller agree to do business together
a. only for the benefit of the seller b. only for the benefit of the buyer c. for the mutual benefit of both d. for the benefit of neither
Identify a statement that is true about a linear demand curve.
A. Along a linear demand curve, both the slope and price elasticity are constant. B. Along a linear demand curve, the price elasticity is constant, but the slope varies. C. Along a linear demand curve, total revenues are constant. D. Along a linear demand curve, the slope is constant, but the price elasticity varies. Along a linear demand curve, total revenues are negative.