GDP includes:
A. the negative attributes from erosion and deforested landscape.
B. all quality improvements resulting from higher quality goods replacing inferior goods.
C. the cleaning-up expenses associated with pollution.
D. the value of leisure time.
Answer: C
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Another term to describe the normal rate of return on capital is the
A) fixed cost of capital. B) depreciation cost of capital. C) opportunity cost of capital. D) monopoly rent.
Which of the following correctly describes the trend in the federal budget during the 1980s? a. Federal spending declined relative to GDP, while federal revenues rose relative to GDP. b. Federal spending rose relative to GDP, while federal revenues declined relative to GDP. c. Balanced budgets were passed through cooperation between the President and Congress. d. The dollar depreciated,
thereby lowering the deficit. e. The budget deficit decreased and then disappeared, turning into a surplus in the 1980s.
Terry wants to sell his car and the lowest price he is willing to accept is $3,000 . Alice likes the car and is willing to pay at most $4,000 for it. What is the headroom for them?
a. Prices up to $1,000 b. Price range between $3,000 and $4,000 c. Prices above $4,000 d. Prices below $3,000
Does the benefits received principle work well for all public goods?