Household spending on education is counted in which component or subcomponent of GDP?

Something that changes incentives so as to make otherwise empty threats or promises credible is called a:

A. dominant strategy. B. commitment device. C. strategic device. D. Nash equilibrium.

If you have trouble finding a job because of a slowdown in the overall economy, we would say that you are

A) cyclically unemployed. B) frictionally unemployed. C) seasonally unemployed. D) structurally unemployed.

Which of the following statements is most consistent with the rule of rational choice?

a. "The Environmental Protection Agency should strive to eliminate virtually all air and water pollution." b. "When evaluating new prescription drugs, the Food and Drug Administration should weigh each drug's potential health benefits against the potential health risks posed by known side effects." c. "Police forces should be enlarged until virtually all crime is eliminated." d. "Manufacturers of automobiles should seek to make cars safer, no matter the costs involved."

The main difference between the short run and the long run is that

A. in the long run, all inputs are fixed. B. in the short run, some inputs are fixed and some are variable. C. the short run always refers to a time period of less than five years. D. the long run always refers to a time period of one year or longer.