One common measure of the "standard of living" in a nation is:
A. Per capita real income
B. Unemployment rate
C. Real GDP
D. Population size
A. Per capita real income
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According to Tobin's q theory, when equity prices are high the market price of existing capital is ________ relative to new capital, so expenditure on fixed investment is ________
A) cheap; low B) dear; low C) cheap; high D) dear; high
See Scenario 4.1. What is Daniel's budget constraint?
A) 240 = 3Pc + 3Pd B) 240 = 3Qc + 3Qd C) 240 = (Pc)(Qc) D) 240 = (Qc)(Qd) E) none of the above
GDP underestimates our economic well-being:
a. for of all the following reasons. b. because it includes the value of work done by nannies. c. because it ignores leisure. d. because it includes the value of work done by householders. e. because it includes the value of work done by illegal immigrants.
Foreign savings that are used for investment spending in the United States are ______.
a. domestic savings b. unilateral transfers c. service imports d. capital inflows