As long as a public sector activity will generate benefits regardless of the costs, the activity should definitely be undertaken.
Answer the following statement true (T) or false (F)
False
Public sector activity should generate benefits that are greater than or equal to the costs of producing them.
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Which of the following is included in U.S. GDP?
i. the rental value of homes owned by U.S. citizens ii. the production of Suburban SUVs by GM in its plant in Mexico iii. tickets sold by U2 for concerts held in the United States A) i only B) ii only C) ii and iii D) i, ii and iii E) i and iii
If a country's income grows at the rate of 5 percent a year, it doubles in about
A) eight years. B) six and one-half years. C) ten years. D) fourteen and one-half years. E) twenty years.
Which of the following would lead you to predict an upward shift in the consumption function?
a. a decrease in the value of real wealth b. a decrease in disposable income c. an increase in the value of real wealth d. an increase in the price level
Something that provides utility is called a
A) good. B) bad. C) want. D) need. E) a and d