The President receives economic policy advice from economists at each of the following except
a. the Council of Economic Advisors.
b. the Department of the Treasury.
c. the Congressional Budget office.
d. the Department of Labor.
c
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Which of the following statements about the importance of trade to the U.S. economy is false?
A) The U.S. economy is highly dependent on international trade for growth in its gross domestic product. B) Overall, about 20 percent of U.S. manufacturing jobs depend directly or indirectly on exports. C) The United States is the second largest exporter in the world. D) Since 1970, both exports and imports have steadily increased as a fraction of U.S. gross domestic product.
How will a decrease in price tend to affect supply? a. Supply will increase
b. Supply will decrease. c. Supply will not change. d. It is uncertain.