The National Income and Product Accounts (NIPA) help economists and policymakers to:
A. determine which firms are likely to succeed or fail.
B. follow the long-run course of the economy to determine whether it has grown or stagnated.
C. measure what is occurring in each specific labor market.
D. accomplish all of these.
B. follow the long-run course of the economy to determine whether it has grown or stagnated.
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Subtracting government investment from government purchases gives us the amount of government
A) outlays. B) primary expenditures. C) secondary spending. D) consumption expenditures.
Perfectly elastic demand curves are
a. downward sloping b. upward sloping c. vertical d. horizontal e. steep
In economics, interpersonal comparisons of utility
a. are widely accepted as useful and accurate to determine market demand b. are widely accepted as useful and accurate to determine consumer surplus c. can be measured accurately by using the hypothetical unit of utils d. are generally avoided because we cannot compare with complete confidence the utility one person derives from a dollar to the utility another person derives from adollar e. are widely accepted as useful and accurate because consumers have similar utility preferences
If the Fed raised the reserve requirement, the demand for reserves would
a. increase, so the federal funds rate would fall. b. increase, so the federal funds rate would rise. c. decrease, so the federal funds rate would fall. d. decrease, so the federal funds rate would rise.