The GDP price index:
a. measures the average price of final goods and services produced in an economy
b. measures the quality of goods produced in an economy.
c. is derived using the prices of only imported and exported goods and services.
d. is derived using the implicit prices of goods and services produced by the government.
e. measures the value of all intermediate goods and services sold in an economy.
a
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In practice, the Federal Reserve keeps the discount rate close to the ________ rate in order to avoid large swings in borrowed reserves by banks
A) inflation B) prime C) six-month Treasury bill D) federal funds
The infant industry argument suggests that
A) a country requires tariff protection when it has no comparative advantage in the production of any good. B) a country requires protection against unfair trade practices. C) an industry may require temporary tariff protection until the industry matures. D) the industry has no potential and must be protected to survive.
If government debt is an external debt, the debt burden cannot be passed on to future generations
Indicate whether the statement is true or false
Recall the Application about genetic testing and adverse selection to answer the following question(s).According to the Application, what is causing more and more consumers to get a complete genetic profile of themselves?
A. The cost of genetic testing is decreasing. B. The government is subsidizing genetic testing through Medicare. C. More employers are requiring genetic testing before workers are hired. D. More people want to know which famous person they are related to.