Question
No need for explanations just wanna make sure i have the correct answers, i appreciate it and thank you. 1) If you were responsible for
No need for explanations just wanna make sure i have the correct answers, i appreciate it and thank you.
1) If you were responsible for measuring GDP, according to current rules which of the following items would you not include?
a) the purchase of a previously owned home
b) the purchase of a haircut in a salon
c) an increase in business inventories
d) the salaries of members of the military
The most effective way to lower structural unemployment is to:
a) Increase government transfer payments for food and healthcare
b) Expand education and training programs
c) Reduce taxes on business sales and consumer incomes
d) Raise the money supply
3) The NBER would be most likely to state that a recession is underway when it observes a steady decline in:
a) Interest rates
b) Unemployment
c) Inflation
d) Personal income
4) Which of the following is an accurate statement of economic relationships in the U.S. economy?
a) Cash < GDP < wealth
b) Wealth < cash < GDP
c) Wealth > cash > GDP
d) GDP > wealth > cash
5) A main component of Classical economics is that:
a) in most cases, recessions end up leading to depressions and high inflation
b) the use of markets is not an effective way to allocate resources or reach potential GDP
c) laissez faire policies by the government will promote long-run economic growth
d) the government should control the factors of production in order to maintain full employment
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