Which of the following is true when a potato farmer keeps some of the farm's potatoes for personal use:
A. The potatoes must be reported in the gross domestic product.
B. The farmer is engaging in an illegal activity.
C. The farmer is not producing salable goods.
D. The potatoes are not counted in the gross domestic product.
D. The potatoes are not counted in the gross domestic product.
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Universal health insurance policies fall into three categories: single payer/single provider systems, single payer systems, and regulated insurance markets. The United States has elements of two of these.
Answer the following statement true (T) or false (F)
All straight-line demand curves have the same elasticity value since the slope is constant.
Answer the following statement true (T) or false (F)
The purchase by a household in China of a CD produced in the United States is included in U.S
A) consumption expenditures. B) investment expenditures. C) net exports. D) government purchases.
Which of the following is true about total factor productivity (TFP)?
A) it can be measured just like capital and labor B) it cannot be directly measured so it has to be calculated from given values of capital, labor and output C) while it cannot be measured directly, it has an exponent of 0.3 in the Cobb-Douglas production function D) while it cannot be measured directly, it has an exponent of 0.7 in the Cobb-Douglas production function E) none of the above