In 2009, we ran a ________ on our current account and a _______ on our capital account.
A. deficit; deficit
B. surplus; surplus
C. deficit; surplus
D. surplus; deficit
C. deficit; surplus
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Technological advancement implies:
a. the increase in the quantity of inputs needed to produce a given quantity of output. b. the reduction in the quantity of inputs needed to produce a given quantity of output. c. the reduction in the productivity of a sector of the economy that has become obsolete. d. an increase in the labor to capital ratio in any production process. e. the growth in the natural resource endowment.
The price of domestically produced DVD players increases dramatically, causing a 1 percent increase in the CPI. The price increase will most likely cause the GDP deflator to increase by
a. (i) more than 1 percent. b. (ii) less than 1 percent. c. (iii) 1 percent. d. None of (i), (ii), and (iii) is correct; this particular price increase will not affect the GDP deflator.
Which is the most accurate statement?
A. Company towns have declined in importance in the U.S. B. Company towns are of growing importance in the U.S. C. There never were any company towns in the U.S. D. Company towns today are as important as they were in the past.
Members of the Federal Reserve Board of Governors are ______.
a. elected by the U.S. public for lifetime terms b. appointed by the U.S. president for terms of 14 years c. appointed and removed according to the votes of Fed member banks d. chosen at random from the heads of the 12 regional Fed banks, every four years