To calculate GDP using the income approach, one of the adjustments made to net domestic product at factor cost is to
A) add investment.
B) subtract indirect taxes less subsidies.
C) add consumption expenditure.
D) subtract investment.
E) add depreciation.
E
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For a monopsony the labor supply curve
A) does not exist. B) is the marginal product of labor curve. C) is the marginal cost of labor curve. D) lies below the marginal cost of labor curve.
A swap contract __________ be resold, which is particularly important for the __________ in swaps
A) can; speculator B) can; hedger C) cannot; speculator D) cannot; hedger
Which of the following would be evidence against rational expectations?
a. unpredictable changes in policy have real effects. b. new information leads to changes in output. c. the public never make mistakes with respect to price level predictions. d. changes in stock prices change much more often than new information becomes available.
Suppose a lottery ticket costs $1and has a jackpot of $1,000 . What must the probability of winning nothing be if the bet is fair?
a. 99% b. 99.9% c. 99.999% d. 99.9999%