The calculation of GDP using the income approach EXCLUDES
A) rent.
B) interest.
C) environment quality.
D) wages.
E) profit.
C
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Consumer equilibrium occurs where the budget line is ____ to the ____ possible indifference curve
a. tangent; highest b. equal; lowest c. marginal; maximum d. differential; highest
The stock market crash of 1929 may have been avoided if:
A. investors had acted rationally. B. investors had acted irrationally. C. large companies had been more objective in their decision making. D. large companies had been more emotional in their decision making.
Given that the economy is operating in the horizontal section of the aggregate supply curve in the simple Keynesian model, an increase in autonomous spending will ____________________ (assuming that the economy remains in the horizontal section of the aggregate supply curve)
A) increase Real GDP and raise the price level B) decrease Real GDP and raise the price level C) increase Real GDP and leave the price level unchanged D) increase Real GDP and lower the price level
An incumbent firm lobbying government officials require any new firm that enter the market to include costly pollution-reducing devices, is an example of
A) learning by doing B) raising all firms' costs C) raising rivals' costs D) limit pricing