The data in the national income and product accounts are compiled by
A. the House Ways and Means Committee.
B. the Bureau of Economic Analysis.
C. the Bureau of Labor Statistics.
D. the Federal Reserve.
Answer: B
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A balance sheet
A) measures flows of income and expenditure over a given period of time. B) equates flows of revenue with flows of expenditure. C) measures assets, liabilities, and net worth at a giving instance in time. D) None of the above are correct.
In its case against Microsoft, the government contended that Microsoft engaged in a pattern of predatory behavior designed to extend its monopoly power. This is an example of "per se illegality."
a. True b. False
Marginal valuation is:
a. the maximum a person is willing to pay for an additional unit of a good or service. b. the maximum amount of a good or service a person is willing to consume. c. the difference between the price an individual is willing to pay for a good or service and its actual price. d. the difference between the amount of a good or service demanded and that which is available.
Which of the following has a more elastic demand?
a. a hamburger b. an automobile c. breakfast cereal d. microwave oven