Which one of the following is NOT included in GDP?
A. A homeowner hires a cleaning service to take care of household chores she chooses not to do because of the demands of her job.
B. A bicycle manufacturer pays an advertising agency to develop a new promotional campaign.
C. You look after your neighbor's plants during her vacation in exchange for her agreement to feed your fish while you are gone.
D. You purchase new tires for your old car.
Answer: C
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According to the text, is there any relationship between bureaucratic inefficiency and economic growth?
A) Yes, bureaucratic inefficiency and economic growth are positively related. B) No. Some nations' economies grow rapidly despite their inefficient governments while others collapse with inefficient governments. C) Yes, but only in the most economically developed nations. D) Yes, bureaucratic inefficiency and economic growth are inversely related.
The sustained expansion of production possibilities is called
A) opportunity cost of growth. B) production possibilities. C) economic growth. D) economic investment. E) production expansion.
Which of the following is NOT a major driver of globalization over the past few decades?
The investment schedule is downward sloping and the saving schedule is upward sloping with respect to the interest rate. Suppose the equilibrium real investment per year at the market rate of interest is $1 trillion
How is this represented when real national income per year is on the horizontal axis? How is this incorporated into the consumption-function graph?