Which of the following is directly included in the calculation of GDP?
A. The final sale of a brand new Cadillac.
B. The appreciation in value of shares of stock.
C. The sales of land to a builder.
D. The sales of sand to a glassmaker.
Answer: A
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Over the past 50 years, the U.S. labor force participation rate has decreased for
i. men. ii. women. iii. the over-all labor force. A) i only B) ii only C) i and iii D) ii and iii E) i, ii, and iii
The price elasticity of output supply is greater in the long run than in the short run.
Answer the following statement true (T) or false (F)
In the computation of GDP, Social Security payments count as
A) transfer payments and are included in GDP. B) transfer payments and are not included in GDP. C) government expenditure on goods and services and are included in GDP. D) government expenditure on goods and services and are not included in GDP.
Logrolling:
a. occurs when legislatures trade voted in order to pass legislation beneficial to their own districts b. often leads to pork barrel legislation c. both of the above d. neither of the above