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; is
B. is not; is
C. is; is not
D. is not; is not
Answer: B
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The mandate for the monetary policy goals that has been given to the European Central Bank is an example of a ________ mandate
A) primary B) dual C) secondary D) hierarchical
Refer to Figure 6.3. Suppose the price of pizza is $8.50. Then the consumer will purchase _____ pizzas and the net benefit is ______.
A. 5; $9.50
B. 4; $8.00
C. 5; $3.50
D. 4; $9.50
GDP is the total market value of:
a. All expenditures on natural resources, labor, and capital goods in an economy in a given year b. All intermediate goods and services produced in an economy in a given year c. All final goods and services produced in an economy in a given year d. All expenditures on consumption, investment, and net exports in an economy in a given year
The difference between what producers receive at the market clearing price and the total amount that they would have been willing to accept for the total quantity produced in a market is called
A. producer surplus. B. market surplus. C. excess demand. D. production excess.