The National Income and Product Accounts (NIPA) for the U.S. are compiled by the:
A. National Bureau of Economic Research
B. Bureau of Economic Analysis
C. National Census Bureau
D. Council of Economic Advisers
B. Bureau of Economic Analysis
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The demand for money increases and the demand for money curve shifts rightward if
A) the real interest rate increases. B) the inflation rate increases. C) the nominal interest rate increases. D) the price level falls. E) real GDP increases.
In the figure above, the deadweight loss created if the industry changes from perfectly competitive to a single-price, unregulated monopoly is
A) zero. B) $8.00 per day. C) $24.00 per day. D) $36.00 per day.
A situation in which a country does not trade with other countries is called
A) self-actualization. B) autonomy. C) independence. D) autarky.
Firms faced with prisoners' dilemma can always make more profits by engaging in opportunistic behavior. Why is this type of behavior NOT commonly found even in oligopolistic markets?
What will be an ideal response?