Transfer payments are:
A. excluded when calculating GDP because they only reflect inflation.
B. excluded when calculating GDP because they do not reflect current production.
C. included when calculating GDP because they are a category of investment spending.
D. included when calculating GDP because they increase the spending of recipients.
B. excluded when calculating GDP because they do not reflect current production
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To graph a relationship involving more than two variables, we use which assumption?
A) linear assumption B) positive relationship assumption C) marginal analysis D) ceteris paribus E) trend assumption
What would happen in the market for knee replacement surgery if insurance companies started to cover a smaller portion of the cost of the surgery?
A) Supply will decrease, but this will not shift the demand curve. B) Demand will decrease and supply will increase. C) Demand and supply will both decrease. D) Demand will decrease, but this will not shift the supply curve.
Economic discrimination takes place when an employer
A) pays workers the lowest wage possible. B) pays workers compensating wage differentials. C) pays lower wages to workers who are not as productive as other workers. D) pays workers different wages on the basis of some arbitrary characteristics of workers that are irrelevant to the job performed.
The Nash equilibrium for the game is
a. For both stores to advertise b. For megastore to advertise and for superstore not to advertise c. For megastore not to advertise and for superstore to advertise d. For both stores to not advertise