The current U.S. economy is based primarily on the production of
A. Services.
B. Manufacturing goods.
C. Agricultural goods.
D. Goods for federal government use.
Answer: A
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The key reason that the Laspeyres price index tends to overstate the impact of price changes on consumers is that it:
A) only accounts for price increases and ignore price decreases. B) measures prices two periods after the actual price changes occurred. C) ignores the possibility that consumers alter their consumption as prices change. D) All of the above are correct. E) none of the above
The demand for luxurious goods are usually unaffected by an increase in income
a. True b. False Indicate whether the statement is true or false
The primary advantage of mutual funds is that they
a. always provide the highest return. b. always allow people to "beat the market.". c. allow people to diversify and reduce risk. d. allow people to diversify, which increases risk and return.
Which group is responsible for the policy decision of changing the money supply?
A. Federal Open Market Committee B. Office of Management and Budget C. Thrift Advisory Council D. Federal Advisory Council