Free markets can:
a. prouduce goods and services with maximum efficiency
b. solve unemployment
c. protect the environment
d. all of these
a
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The relationship between the interest rate and the precautionary demand for money is
A) nonexistent. B) inverse. C) positive. D) positive sometimes and inverse other times.
The gross domestic product of a nation measures:
a. the amount of goods and services exported by the nation. b. the amount of goods and services imported by the nation. c. total expenditures by the nation's government d. the size of the nation's economy.
Explain intuitively why the market for a nonexcludable good fails to provide an efficient quantity.
What will be an ideal response?
The value of Gross Domestic Product (GDP), when estimated by the income approach, is the sum of
A. income earned by all factors of production, indirect business taxes, corporate income taxes, and personal income taxes. B. consumption expenditures, investment spending, and profits. C. wages, rent, interest, gross corporate profits, proprietor's income, and taxes unrelated to incomes, and depreciation. D. consumption, wages, rents, interest, and profits.