“Underground” economic activity can best be described as
A. the construction of subway transportation.
B. the building of foundation structures for skyscrapers.
C. the mining and oil industries.
D. barter or cash activity that is not reported as income.
Answer: D
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Refer to Table 15-4. What is the amount of Shakti's profit?
A) $68 B) $72 C) $124 D) $192
Which of the following statements is true?
a. The four phases of the business cycle, in order, are: peak, recovery, trough, recession. b. When unemployment is rising then real GDP is rising. c. The economic problem typically associated with a recovery is rising unemployment. d. Full employment exists in an economy when the unemployment rate equals the sum of frictional, and structural unemployment rates.
The idea of opportunity cost suggests that the cost of a particular choice should be measured by the
a. price of the good chosen b. price of the good divided by income c. value of the best alternative sacrificed d. amount of the good consumed e. sum of the costs of all foregone opportunities
Which of the following would shift the investment demand curve leftward?
A. an increase in business taxes B. a decrease in business taxes C. a tax credit for new investment D. Firms are operating their plants at full capacity.