The four components of GDP are consumption expenditures, private investment expenditures, government purchases, and transfer payments
Indicate whether the statement is true or false
FALSE
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An incentive system is a
A) method of organizing production that uses a market-like mechanism inside the firm. B) method of organizing production that uses a managerial hierarchy. C) set of rules that induce an agent to act in the best interest of a principal. D) method of production that implements an assembly-line process.
Why do economists generally favor vouchers to achieve an efficient outcome?
What will be an ideal response?
The demand for Exxon gasoline is ____ the demand for all gasoline.
A. exactly as elastic as and has a different slope than B. more elastic than C. less elastic than D. exactly as elastic and has the same slope as
If the par value of a bond is $200, and the bid price of the bond is $90, it implies that:
a. the bond is sold at $110. b. the bond was bought at $110. c. the bond is trading at a discount of 10 percent of its par value. d. the bond is trading at 45 percent of its par value. e. the bond is trading at a premium of 15 percent.