The value of unpaid childcare services provided by a stay-at-home dad ________ included in GDP; the value of daycare services purchased from a licensed childcare provider ________ included in GDP.
A. is not; is not
B. is; is
C. is not; is
D. is; is not
Answer: C
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You save $10 on gas every week because you take the bus to school. You have class 5 days a week. What is your average benefit per day of taking the bus to school?
A. $0 B. $2 C. $5 D. $10
By the first years of the 21st century, the rate of inflation in the United States had fallen to between ________ percent
A) 1 and 2 B) 4 and 5 C) 5 and 6 D) 8 and 10
A monopolist hires fewer workers than a perfectly competitive industry, other things being equal, because
A) a monopolist has to pay higher wages in order to attract additional workers. B) the monopolist substitutes more capital for labor when compared to a competitive industry. C) the monopolist producer has to deal with unions and face higher wages than do competitive industries. D) the monopolist produces less output than a competitive industry.
If a perfectly competitive firm is currently producing where P = MC and MC = ATC, then the firm will earn ________ profits.
A. above normal B. negative C. positive D. zero