Which of the following expenditures would not be included in GDP?
a. All of these choices would be counted in GDP.
b. Purchase of a new lawnmower.
c. Purchase of a silver cup previously sold new in 1950.
d. Purchase of a ticket to the latest movie.
c
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The short-run Phillips curve shifts from SRPC0 to SRPC1 as a result of
A) a fall in the expected inflation rate. B) an increase in the natural unemployment rate. C) a rise in the expected inflation rate. D) a decrease in the natural unemployment rate. E) None of the above answers is correct.
Which one of the following is a way to get out of a repeated Prisoner's Dilemma Nash Equilibrium?
a. Do not be forgiving b. Be forgiving c. Punish the competitors severely forever d. All of the above
Use the idea of interpersonal comparisons of utility to argue for a progressive income tax system where people in higher income brackets are charged higher tax rates on their extra income
Although loans in the federal funds market are very short term, such as daily, the federal funds rate is stated as an annual rate of return
a. True b. False