U.S. government regulation of social and economic activity
A) only began after World War II.
B) costs less now than it did in the 1980s.
C) has increased steadily since 1970.
D) is confined to antitrust law.
Answer: C
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When the price level is rising at ______ and the real interest rate is 1 per-cent a year, the nominal interest rate is 3 percent a year
A. 4 percent a year B. 3 percent a year C. 2 percent a year D. 1 percent a year
Gross Domestic Product (GDP) is defined as the market value of:
A) all goods and services sold during the year by domestic and foreign producers. B) all final consumer goods produced during the year by domestic and foreign suppliers. C) all intermediate goods produced during the year by domestic and foreign suppliers. D) all final goods and services produced within the boundaries of an economy during the year by domestic and foreign-supplied resources.
Macroeconomists define consumption as
A) purchases by the business sector. B) wearing away and breakdown of capital goods. C) the difference between imports and exports. D) purchases by the household sector.
The most important factor in reversing the economic decline of 1929-1933 was that
A. the federal government finally balanced its budget. B. the stock market began to rise. C. people became more optimistic. D. the federal government began to spend a huge amount of money.