Which of the following values would be included in U.S. GDP for 2015?
a. the rent that Sam, an American citizen, would have paid on his home in Houston in 2015 had he not owned that home.
b. the rent that Jim, an American citizen, paid on his apartment in San Francisco in 2015.
c. the value of the legal services provided by Juan, an attorney and a Mexican citizen, who lived in San Antonio and practiced law there in 2015
d. All of the above would be included in U.S. GDP for 2015.
d
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A. What is the defining characteristic of a natural monopoly?
b. Should the government break up a natural monopoly into two or more firms to make the industry more competitive? c. Suppose the government wants to ensure that some of the benefits of declining average total cost are passed on to consumers. To achieve this goal, it requires that the natural monopoly set its price equal to marginal cost. Is this a feasible goal? Explain. d. What is an alternative to marginal cost pricing that ensures that consumers reap some of the benefits of declining average total cost?
Bond prices and interest rates
A. are interrelated. B. have no relationship to one another. C. rise or fall in tandem. D. None of these choices.
Monetary policy is conducted
A) only by the Federal Reserve. B) by the Federal Reserve and the President of the United States. C) by the Federal Reserve, the President of the United States, and Congress. D) by the Federal Reserve with veto power residing with the President of the United States.
The actual unemployment rate is equal to ________
A) the natural rate of unemployment plus the cyclical rate B) the natural rate of unemployment minus the cyclical rate C) the natural rate of unemployment times the cyclical rate D) the natural rate of unemployment divided by the cyclical rate