GDP is calculated
A) on a monthly basis by the Bureau of Labor Statistics of the Department of Labor
B) on a weekly basis by the National Bureau of Economic Research
C) on a quarterly basis by the Bureau of Economic Analysis of the Department of Commerce
D)on an annual basis by the Federal Reserve Board of Governors
Answer: C) on a quarterly basis by the Bureau of Economic Analysis of the Department of Commerce
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Suppose a tornado ravages a city, causing 5 million dollars in expenditures on new construction and healthcare for the victims. Those new expenditures
A) would be added to the gross domestic product account. B) would be subtracted from the gross domestic product account. C) would be added to the gross domestic product account and subtracted from the national income account. D) would impact GDP in none of the above ways.
Both screening and signaling:
A. correct inefficiency in the market. B. allow more transactions to take place that are valuable to buyers and sellers. C. can increase surplus gained in a market. D. All of these statements are true.
The derived demand curve for loans slopes downward because as interest rates
a. fall, future income becomes less valuable. b. fall, investors develop pessimistic expectations. c. fall, future income becomes more valuable. d. rise, investors become pessimistic.
Increasing the quantity of a pure public good can be done at zero cost.
A. True B. False C. Uncertain