The Bureau of Economic Analysis releases last quarter's growth rate in real GDP. This release would most likely have been written by what kind of an economist?
A. A labor economist
B. A microeconomist
C. A monetary economist
D. A macroeconomist
Answer: D
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The U.S. Department of Energy is investing $60 billion in rural parts of the U.S., largely in the Great Plains, in order to develop what alternative source of energy?
a. Wind power b. Solar power c. Biofuels d. Hydroelectric
The psychological theory of the business cycle is
a. incorporated into practically all other theories of the cycle. b. held in disrepute by most economists. c. a complete explanation of the cycle. d. used only by monetary theorists.
The employee is thinking like an entrepreneur in which of the following situations?
What will be an ideal response?
Inflation is defined as:
A. an increase in the overall level of prices. B. the rate of growth in nominal GDP. C. a situation where all prices in the economy rise simultaneously. D. the growth phase of the business cycle.