Changes in taste and preference refer to changes in
A) Composition of the population. B) Attitudes toward food safety.
C) Attitudes toward nutrition and health. D) All of the above.
Answer: D
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In calculating GDP, "transfer payments" are
A) included because they are re-valuations of existing wealth. B) excluded because no goods or services were produced in exchange for them. C) included because they are payments for labor services. D) excluded because used goods already counted the year they were produced.
What is the best response of Vendor B to Vendor A pricing high?
a. Also price high b. Price low c. Leave the market d. All of the above
In the circular flow diagram, ________ supply the factors of production, and ________ goods and services
A) firms; sell B) households; buy C) firms; buy D) households; sell
Which of the following is most likely to cause the savings supply curve in the market for loanable funds to shift leftward?
A) Government borrows to finance a war. B) All firms project higher future revenue streams for all of their projects. C) All firms project lower future revenue streams for all of their projects. D) Government institutes a high tax on savings.