Identify which of the following are included in the government purchases component of GDP. the salary paid to a state court judge unemployment insurance benefits the payment made by the federal government for a jet fighter social security payments a county builds a jail building
The following are included in government expenditures:
the salary paid to a state court judge
the payment made by the federal government for a fighter jet
a country builds a jail building
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The least liquid form of money is _________
Fill in the blank(s) with the appropriate word(s).
If the exchange rate rises as shown by the arrow, the price of American exports to foreigners will be ________, and foreign nations will demand ________ dollars in order to buy ________ American exports
A) higher; fewer; fewer B) cheaper; fewer; more C) cheaper; more; more D) cheaper; fewer; fewer E) higher; more; more
Individual price discrimination is used when
A) firms are dealing with individual consumers, such as in a line at the coffee shop. B) firms cannot easily determine consumers' reservation prices. C) firms are selling to non-local buyers. D) salespeople are in a difficult industry, such as auto sales.
A simplifying assumption is typically made so as to
A. divert attention from the real problem. B. make things look better than they really are. C. make a point clearer by stripping away excess detail. D. make a point clearer by adding sufficient detail to get things precise.