A good measure of the standard of living is
A) total real GDP. B) real GDP per capita.
C) total nominal GDP. D) nominal GDP per capita.
B
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Generally, any human decision is
A) speculative. B) perfectly informed. C) irrational at its base. D) good.
Why might it be inefficient for the labor market not to have some form of unemployment compensation?
What will be an ideal response?
In 1950, the largest category of state and local revenue (as a percentage of GDP) came from _____
a. individual income taxes b. sales and gross receipt taxes c. property taxes d. estate taxes
Which of the following types of unemployment can exist in an economy that is at its potential output level?
a. cyclical unemployment only b. structural unemployment only c. frictional, cyclical, and seasonal unemployment only d. frictional, seasonal, and structural unemployment only e. there will be no unemployment in an economy that is at the potential output level