Direct finance involves ________
A) borrowing monies from commercial banks
B) issuing securities in financial markets
C) borrowing from the Federal Reserve System
D) issuing insurance policies
B
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An increase in expected future disposable income ________ consumption expenditure and ________
A) increases; shifts the consumption function downward B) increases; shifts the consumption function upward C) decreases; shifts the consumption function upward D) increases; results in a movement upward along the consumption function E) decreases; shifts the consumption function downward
Normally in the United States the relationship between nominal and real GDP for a given year is
A) real GDP is greater than nominal GDP because of price increases. B) nominal GDP is greater than real GDP because of price increases. C) nominal GDP equals real GDP. D) nominal GDP is greater than real GDP because of price decreases.
The recession that set in after December 2007 can be attributed to: a. an increase in expenditure on war
b. a decline in home prices and an increase in foreclosures. c. an increase in terrorist activities. d. crop failures around the world. e. an increase in oil prices in the international market.
An efficient allocation of resources requires each product’s price equals its marginal cost.
Answer the following statement true (T) or false (F)