In a mixed open economy, the equilibrium GDP exists where:
A. C a + I g + X n intersects the 45-degree line.
B. C a + I g = S a + T + X.
C. C a + I g + X n + G = GDP.
D. C a + I g + X n = S a + T.
C. C a + I g + X n + G = GDP.
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In New York City, when he was the mayor Michael Bloomberg recommend that the city, with the help of private donors, make cash payments to poor and underprivileged parents who can certify that their children are attending school on a regular basis
The payments would start after third grade and go through high school, rising each year as dropout rates get higher and a child's forgone earning potential is higher. What economic concept does this policy represent? A) public goods B) incentives C) externalities D) technological progress E) the "invisible hand"
One way by which firms differentiate their products is to find a market niche
Indicate whether the statement is true or false
The American Association of Retired Persons (AARP) provides checklists summarizing the voting and attendance records of legislators. Which of the following is true?
a. If the AARP's members were rational, it wouldn't have to do this. b. This policy is useless if AARP members are rationally ignorant. c. This policy is intended to reduce voters' rational ignorance by decreasing the cost of information. d. If AARP members read this information, their rational ignorance would be eliminated. e. If all voters in the nation read this information, their rational ignorance would be eliminated.
Which of the following is an example of a compensating differential?
a. Two workers with different levels of on-the-job training earn different salaries. b. Two workers whose jobs entail different working conditions earn different salaries. c. Two workers whose jobs require different levels of technical expertise earn different salaries. d. Two workers with different levels of natural ability earn different salaries.