Which of the following is not a measure of how close a nation is to full employment?
a. Capacity utilization index.
b. Unemployment rate.
c. Employment rate.
d. Net export position of the nation.
e. All the above.
.D
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Explicit costs include
a. monitoring expenses incurred by the government b. enforcement costs paid by the public sector c. compliance costs incurred by all economic sectors d. all of the above e. none of the above
Competition from substitute goods is more of a threat when switching costs are high
Indicate whether the statement is true or false
The hypothesis that people's spending decisions are based on all available information, including the anticipated effects of government intervention, is known as
A. Rational responses. B. The velocity of money. C. Rational expectations. D. Fiscal expectations.
The two fundamental sections of the Balance of Payments accounting system are
A. aggregate consumption and government spending. B. physical investment and ephemeral investment. C. the current account and the capital account. D. the physical and monetary direct transfers among individuals.