Related to the Economics in Practice on p. 431: The National Income and Product Accounts (NIPAs) were originally developed for the Commerce Department
A. during the era of the Great Depression in the 1930s.
B. during the Reconstruction era following the Civil War.
C. at the onset of the Cold War in the 1950s.
D. during the 1970s following the public distrust of the government from the Watergate scandal.
Answer: A
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Refer to Table 12-1. What is the fixed cost of production?
A) $0 B) $500 C) $1,000 D) It cannot be determined.
The real interest rate can be negative
a. True b. False Indicate whether the statement is true or false
A good economic theory: a. includes every detail that affects the economic behavior of interest
b. relies on simplifying assumptions in order to explain economic behavior. c. does not rely on simplifying assumptions. d. is impossible to achieve because of the difficulty of conducting controlled experiments.
If a developing country has sufficient reserves, the buying and selling of foreign currency by the central bank is:
A. likely to have a much smaller impact on the exchange rate than in developed countries. B. completely ineffective on the exchange rate. C. likely to have a much greater impact on the exchange rate than in developed countries. D. likely to have roughly the same impact on the exchange rate as in developed countries.