The government office that declares official periods of recession and depression is the:
A. Bureau of Labor Statistics.
B. Federal Reserve Board.
C. National Bureau of Economic Research.
D. Congressional Budget Office.
Answer: C
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Which of the following statements concerning efficiency is correct?
a. If a toll road is heavily used so that traffic movement is slowed, the price per vehicle should be reduced since the road is generating more revenue. b. Economists advocate high prices for abundant resources and low prices for scarce resources. c. If a toll road is heavily used and traffic movement is difficult, the price per vehicle should be increased to shift some traffic to less-crowded roads. d. None of the above is desirable in promoting efficient use of scarce road space.
Eating a bag of sweets gives Rory 25 utils of satisfaction. How many additional utils would you expect Rory would get from eating a second bag of sweets?
(a) 25 utils. (b) Less than 25 utils. (c) More than 25 utils. (d) 50 utils.
What effect might a fall in stock prices have on busi-ness investment?
What will be an ideal response?
The major component of all activities once a crop, livestock, or fiber product leaves the farm gate is
A) labor. B) advertising. C) packaging and transportation. D) none of the above.