The broadest measure of the price level that includes all final goods and services is
A) the producer price index .
B) the consumer price index.
C) the GDP deflator.
D) the wholesale price index.
Answer: C
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A corporation is a firm owned by
A) two or more owners who have unlimited liability. B) a single owner who has unlimited liability. C) at least 20 stockholders who have partially limited liability. D) stockholders who have limited liability.
What are the two largest categories in federal government spending?
A. national defense and income security B. Social Security and income security C. national defense and Medicare D. Social Security and Medicare
Describe how the Fed would traditionally use open market operations to change short-term and long-term interest rates
What will be an ideal response?
The unemployment rate will rise when
A) people get discouraged and quit looking for a job. B) the average work week falls from 40 hours to 39 hours. C) the duration of unemployment increases. D) the size of the labor force increases without an increase in employment.