Which amount is not included in gross domestic product?
What will be an ideal response?
The purchase price of a used car bought from a friend.
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The goal of a union may be to maximize the
a. number of union members. b. income received by workers in the relevant industry. c. number of workers employed in the relevant industry. d. All of the above are correct.
A behavioral economist:
A. uses models that assumes that people are rational rather than purposeful. B. tends to use heuristic models. C. assumes that people are always irrational. D. uses models that assume that people are purposeful rather than rational.
Suppose three roommates cannot agree on the size of a pizza to order. Domino argues for a medium pizza, Godfather contends a large pizza will be needed, and Little Caesar wants a super-large pizza. Assuming no paradox of voting, majority voting will
result in a decision to order: A. a medium pizza. B. a large pizza. C. a super-large pizza. D. two medium pizzas.
Which of the following is not a determinant of autonomous consumption?
A. Taxes. B. The price level. C. The availability of credit. D. The disposable income level.