The business cycle refers to fluctuations in economic activity such as employment and production
a. True
b. False
Indicate whether the statement is true or false
True
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In colonial America, the average wage laborer
(a) received health care benefits, over-time pay and injury compensation. They also worked in safe and healthy environments. (b) achieved a standard of living significantly higher than those standards realized throughout the world. (c) possessed few labor rights, privileges and protections, while being denied the right to vote or organize. (d) had a higher standard of living than workers in Europe but lower health standards because of the rural, isolated conditions of colonial living.
The above figure shows four different markets with changes in either the supply curve or the demand curve
Assuming coffee and tea are substitutes, which graph best illustrates the market for tea after severe weather destroys a large portion of the coffee crop? A) Graph A B) Graph B C) Graph C D) Graph D
Incomes policies are based on discretionary monetary and fiscal policies
a. True b. False Indicate whether the statement is true or false
Answer the question on the basis of the following national income data for the economy. All figures are in billions of dollars. Personal Consumption Expenditures 400 Government Purchases 128 Gross Private Domestic Investment 88 Net Exports 7 Net Foreign Factor Income 0 Consumption of Fixed Capital 43 Taxes on Production and Imports 50 Compensation of Employees 369 Rents 12 Interests 15 Proprietor's Income 52 Corporate Income Taxes 36 Dividends 24 Undistributed Corporate Profits 22 Statistical Discrepancy 0 Refer to the above data. Net domestic product is:
a) $520. b) $580. c) $623. d) $573.