A variable that tends to move in advance of aggregate economic activity is called
A. a leading variable.
B. a coincident variable.
C. a lagging variable.
D. an acyclical variable.
Answer: A
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Answer the following statement(s) true (T) or false (F)
1. Since the 1980s, the upper fifth of earners have seen their percentage of income drop. 2. Older people tend to have higher incomes than middle-aged and younger people. 3. Workaholics earn less than others with comparable skills. 4. Income inequality in the United States is worse than any other country. 5. Political and social conditions have decreased income inequality over the past couple of centuries.
The graph shown here is that of
A. either a colluding oligopolist or an oligopolist engaged in cut-throat competition.
B. neither a cut-throat oligopolist nor a colluding oligopolist.
C. a cut-throat oligopolist.
D. a colluding oligopolist.
A decrease in net exports will cause a(n):
A. increase in aggregate demand. B. decrease in aggregate supply. C. increase in aggregate supply. D. decrease in aggregate demand.
A nation's economic growth is more rapid when
A. the government owns all capital resources in a nation. B. scarce resources are made available for all citizens free of charge. C. capital resources are devoted to their most efficient use. D. there are barriers to establishing legal ownership of capital resources.