Mr. Peabody chooses to invest in companies that produce goods and services based on consumer preferences. Mr. Peabody is investing in companies that are attempting to be
A) allocatively efficient.
B) productively efficient.
C) guaranteed to make a profit.
D) all of the above.
Answer: A
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Since 1960, the only period of several years when the full-employment government budget deficit was negative (that is, there was a full-employment surplus) was
A) from 2000 to 2005. B) the late 1990s and early 2000s. C) the mid-1980s. D) the early 1970s.
Compared to people in other nations, people in the United States pay
a. much higher taxes. b. somewhat higher taxes, on average. c. about the same amount taxes. d. lower taxes.
Nominal GDP measures the ________ of production.
A. current dollar value B. base year value C. change in the volume D. physical volume
Graphically, the effects of an external benefit can be shown as
A. a rightward shift of the market demand curve. B. a market demand curve that is to the left of the market demand that includes external benefits. C. a downward movement along the market demand curve. D. a leftward shift of the market supply curve.