A leading indicator:
a. changes in either direction before a recession starts.
b. usually declines before a recession starts.
c. generally changes after real GDP changes.
d. remains unaffected by changes in real GDP.
e. does not change with business cycles.
b
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When money is used to compare the relative price of a burrito and a taco, money is being used as a
A) medium of exchange. B) store of value. C) measurement of inflation. D) unit of account. E) token of bartering.
Which one of the following transactions in a particular year is included in gross domestic product for that year?
A) Social Security payments to retirees B) The government pays a computer services company that assisted in the delivery of Social Security payments to retirees. C) A car is produced in the previous year and remains in inventory for the entire year under consideration. D) A stay-at-home parent performs housework that the family would otherwise have paid a maid $20,000 a year to perform.
Marketing boards were intended to
a. buy crops from farmers b. import crops from other countries c. subsidize agriculture by incurring losses d. ensure that all food stayed in the country e. all of the above
_____ established the first American colonies in the early 1500s
a. England b. The Low Countries c. France d. Spain