How is leisure counted in GDP?
A. a consumption
B. as investment
C. it is not counted in GDP
D. as an intermediate good
Answer: C. it is not counted in GDP
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The natural unemployment rate occurs
A) at the full employment level of unemployment. B) when the structural unemployment rate equals zero. C) when the frictional unemployment rate equals zero. D) when the sum of frictional and structural unemployment equals zero. E) when the unemployment rate equals zero.
________ is the field of study that applies concepts from social sciences such as psychology and sociology to help understand the behavior of securities prices
A) Behavioral finance B) Strategical finance C) Methodical finance D) Procedural finance
According to Gary Libecap and Ronald Johnson, which of the following was a positive outcome of fraudulently obtaining land by larger firms?
a. Fines charged to fraudulent companies provided substantial revenues for the federal government. b. Resources were transferred to companies that could take advantage of economies of scale. c. Conflicts between farmers and railroads were reduced. d. Legislators friendly to economic development were elected because of backing from the fraudulent companies.
Roger wants to buy a set of X-Men comics and is willing to pay $7 per book. GeekPoint, a comic book store, sells the comics that Roger wants at a market price of $5 per book. If Roger is willing to pay $4.5 per book, which of the following would be the best outcome for Roger?
a. GeekPoint decreasing the market price of each book to $4.75 b. GeekPoint decreasing the market price of each book to $7.5 c. GeekPoint decreasing the market price of each book to $4.5 d. GeekPoint decreasing the market price of each book to $7.25