Which of the following would count as an investment expenditure in national income accounting?
a. General Motors hires 10 electrical engineers.
b. Boeing purchases a new metal stretching machine used to produce airplane wings.
c. Ms. Quantum buys 100 shares of Microsoft stock.
d. A large corporation spends $10,000 per month on long-distance phone charges.
B
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People with less education are:
A. more likely to be unemployed than people with more education. B. less likely to be unemployed than people with more education. C. just as likely to be unemployed than people with more education. D. not comparable to people with more education.
One way insurance firms reduce moral hazard costs is by doing which of the following?
a. charging the buyer lower payments regardless of whether the buyer engages in risky behavior b. making buyers prove they will not engage in risky behavior before they may buy insurance c. charging the buyer higher payments regardless of whether the buyer engages in risky behavior d. making the buyer pays some of the costs in the form of deductibles and co-pays
The law of increasing costs mean that when an economy increases the production of one item-
What will be an ideal response?
Which of the following statements is correct?
A. In large measure, economics is the study of how people make choices. B. If poverty was eliminated there would be no reason to study economics. C. Economics is a natural science. D. Economic analysis can be used to explain how societies, but not individuals, make decisions.