If the price of milk was $2.50 a gallon and it is now $3.25 a gallon, what is the percentage change in price?
A) 13 percent B) 30 percent C) 75 percent D) 77 percent
B
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Undistributed profits ________ counted as part of GDP because ________
A) are not; households are not paid by the firms B) are; they can be used to buy other goods C) are; they are considered income paid to households and loaned back to firms D) are not; they are considered an intermediate good E) are; firms are required to pay corporate income taxes on them
An increase in the domestic interest rate causes the demand for domestic assets to ________ and the domestic currency to ________, everything else held constant
A) increase; appreciate B) increase; depreciate C) decrease; appreciate D) decrease; depreciate
The private ownership of property resources and use of prices to direct and coordinate economic activity is characteristic of:
a. Socialism b. A command system c. Communism d. A market system
It is efficient not to alter the amount of pollution produced by the market.
Answer the following statement true (T) or false (F)