A famous cartel that dramatically increased the price of oil in the mid-1970s was
a. OTEC
b. IMF
c. OECD
d. OPEC
e. LDC
D
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The M1 definition of the money supply includes all of the following EXCEPT
A) savings accounts. B) transaction deposits. C) currency. D) travelers checks.
Which of the following products may have a free-rider problem?
A) On-the-job training programs B) Environmental protection programs C) Movie DVDs D) Mobile phones
Which of the following is a primary implication of the accelerator theory of investment?
A) Net investment occurs when the desired and actual capital stocks are equal. B) In order for gross investment to remain constant, income must remain constant. C) Rising rather than high levels of output are necessary to maintain a high level of net investment. D) B and C are both correct.
Which of the following would be the best measure of the cost of living?
A) real GDP B) real GDP per person C) GDP deflator D) consumer price index