Expenditures by households on education are included in the consumption component of GDP
a. True
b. False
Indicate whether the statement is true or false
True
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Suppose you have $200 with which you can buy shares of stock from two companies: ABC Hot Chocolate Company and XYZ Lemonade. Each company's stock currently sells for $100 per share. If the temperature next year is lower than average, the stock price for ABC will increase by $20, and the stock price for XYZ will not change. If the temperature next year is higher than average, the stock price for XYZ will increase by $20, and the stock price for ABC will not change. There is a 50% chance that it will be colder than average next year, and a 25% chance that it will be warmer than average. If you purchase two shares of ABC stock and no shares of XYZ stock, your expected gain will be ________.
A. $0 B. $20 C. $40 D. $30
People who are only working part-time, but want to be working full-time, are classified officially as
A) unemployed and out of the labor force. B) employed and out of the labor force. C) employed and in the labor force. D) unemployed and in the labor force.
The income elasticity for cars is high. This is best illustrated by which of the following?
(a) College students buy a high percentage of the lower priced, dependable foreign cars. (b) The purchase of all hybrid cars increases in response to the call to reduce the auto's footprint. (c) U.S. cars built by foreign automakers sold at relatively lower prices than their equal American counterparts. (d) All of the above.
The automobile emission standards in the United States are established by
a. automobile producers b. efficient free markets c. the Environmental Protection Agency (EPA) d. automobile owners because they are free to buy whatever gasoline they want e. international standards designed by the United Nations