Refer to the above table. What is the GDP price index in Year 1?
105.2
111.5
108.3
109.6
108.3
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Suppose you were a forecaster of the real wage rate, employment, output, the real interest rate, consumption, investment, and the price level. A shock hits the economy, which you think is a temporary adverse supply shock
(a) What are your forecasts for each of the variables listed above (rise, fall, and no change)? (b) What if the shock was really due to people's reduced expectations about their future income. Which variables did you forecast correctly, and which did you forecast incorrectly?
The three basic legal forms of business enterprise in the United States are
A) monopolies, enterprises, and competitors. B) vertical, horizontal, and conglomerate corporations. C) national, global, and multinational corporations. D) proprietorships, partnerships, and corporations.
The amount of a product that people are willing and able to purchase at a specific price is referred to as the:
a. demand. b. quantity demanded. c. law of demand. d. consumption function. e. purchasing power.
Which of the following is both a store of value and a common medium of exchange?
a. corporate bonds b. mutual funds c. checking account balances d. All of the above are correct.