GDP is supposed to measure the goods ________ the United States.
A. purchased in
B. produced in
C. imported to
D. exported to
Answer: B
You might also like to view...
Profit is the return to entrepreneurship.
Answer the following statement true (T) or false (F)
Suppose that the economy is operating in full-employment equilibrium along the vertical section of the aggregate supply curve. If the aggregate demand curve is reduced by $100 billion in order for the price level to decline by 5 percent, and if the marginal propensity to consume (MPC) is 0.75, then what change in taxes would generate the desired price reduction?
a. $300 billion. b. -$75 billion. c. -$33.3 billion. d. -$25 billion.
The Federal Reserve System
A. regulates not only banks but some of the other financial institutions. B. is directly controlled by the President. C. regulates all financial institutions in the United States. D. controls the fiscal policy of the federal government.
In 1933 the unemployment rate was about 25%. This percentage
(a) is probably quite accurate because the data on unemployment collected by the federal government was quite good at the time. (b) is probably too high because some people with jobs claimed to be unemployed so that they could collect unemployment compensation payments. (c) is probably too low because there were discouraged and underemployed workers. (d) is probably meaningless because the data on unemployment was either very poor or nonexistent.