Which of the following does NOT count as personal consumption?
A. Tax payments
B. Gambling losses
C. Bequests to a hospital
D. Spending on education
Answer: A
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What matters to people is the real value of money or income
Indicate whether the statement is true or false
In the early 2000s, some argued that the Indian government impeded foreign investment with tariffs, investment caps, and tons of red tape. In terms of promoting or retarding economic growth, such policies:
A. increase growth because they keep people producing for the local market. B. decrease growth because they slow the growth of capital. C. increase growth because they stop exploitation by foreigners. D. decrease growth because they cause inflation.
Refer to Table 10.1. The marginal product of the third unit of labor is:
A. 30. B. 50. C. 60. D. 160.
A quota will typically
A. increase the price paid by consumers. B. increase the price received by sellers. C. increase the price received by sellers and increase the price paid by consumers. D. reduce the price received by sellers.