Which of the following is a macroeconomic issue?
A) how a rise in the price of sugar affects the market for sodas
B) how federal government budget deficits affect interest rates
C) what determines the amount a firm will produce
D) the cause of a decline in the price of peanut butter
B
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Transfer payments refer to payments from the government to ________
A) other government agencies B) distribute state taxes collected by the government to individual states C) reimburse property taxes paid by states for government property leases D) certain individuals or groups
Give two reasons why GDP does not reflect total production in an economy
What will be an ideal response?
If a Canadian firm opens a production facility in the United States, the profits from this production facility received by the Canadian owners of the firm in exchange for the factors of production they supply will be included in the
A) gross domestic product of Canada. B) gross national product of the United States. C) gross national product of Canada. D) exports from Canada and imports to the United States.
A private good
A. Experiences free riders. B. Is provided most efficiently by the government. C. Is consumed by one person and excludes consumption by others. D. Results in market failure when provided in markets characterized by laissez faire.