Income is measured as
A. average cash holdings per time period.
B. change in cash holdings per time period.
C. some amount per time period.
D. some amount at a point in time.
Answer: C
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Which of the following serves as the chairperson of the Federal Open Market Committee?
A. The chairperson of the Board of Governors B. The President of the Federal Reserve Bank of New York C. The U.S. Secretary of Treasury D. The Vice President of the United States
The demand curve a monopolist faces is
A) horizontal. B) the industry demand curve. C) vertical. D) inelastic at all points.
During periods of expansion, automatic stabilizers cause government expenditures
a. and taxes to fall. b. and taxes to rise. c. to rise and taxes to fall. d. to fall and taxes to rise.
The marginal revenue product curve shifts when
A) wages fall. B) there is a change in the product price workers are producing. C) wages rise. D) the wages paid exceed the price.