To obtain the net national product (NNP), start with the gross national product (GNP) and subtract:
A. depreciation.
B. depreciation and indirect business taxes.
C. depreciation, indirect business taxes, and corporate profits.
D. depreciation, indirect business taxes, corporate profits, and social insurance contributions.
Ans: A. depreciation
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If the unemployment rate in an economy is 12%, of which 5% is cyclical unemployment, 4% is structural unemployment, and 3% is frictional unemployment, what is the natural rate of unemployment?
What will be an ideal response?
In the Hotelling model, what effect would an increase in the transportation cost t have on, in the first instance, a monopoly firm and, in the second instance, two firms located at the extremes of the line segment who compete over the marginal consumer?
a. The monopolist's profit would decrease but the duopolists' would increase. b. Both monopolist's and duopolists' profits would increase. c. Both monopolist's and duopolists' profits would decrease. d. The monopolist's profit would increase but the duopolists' would decrease.
In the market for production, households offer resources like _____ in return for _____
a. labor; income b. land; profit c. land; human capital d. labor; revenue
Which of the following would increase the demand for labor? (i) a decrease in the output price (ii) an increase in the output price (iii) a labor-saving technological advance (iv) a labor-augmenting technological advance
a. (i) only b. (i) and (iii) only c. (ii) only d. (ii) and (iv) only