If you lived in Jamaica, you would know that Jamaican GDP less capital depreciation in Jamaica equals
a. Jamaican GNP
b. Jamaican national income
c. Jamaican NDP
d. Jamaican NNP
e. Jamaican net investment
C
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If the Fed decides to engage in an open market operation to increase the money supply, what will it do?
A. Sell Treasury bonds, bills, or notes on the bond market. B. Buy Treasury bonds, bills, or notes on the bond market. C. Increase the required reserve ratio. D. Increase the fed funds rate.
An industry is comprised of 10 firms, each with an equal market share. What is the four-firm concentration ratio of this industry?
A. 0.2 B. 0.6 C. 0.8 D. 0.4
The cross elasticity of demand for strawberry jelly and grape jelly is likely to be
A) positive because they are substitutes. B) positive because they are complements. C) negative because they are substitutes. D) negative because they are complements. E) negative because they are inferior goods.
Unit excise taxes imposed on gasoline, alcohol, and cigarettes are
A) largely paid by the producers because they want to maintain their level of sales. B) largely paid by consumers because they are not very responsive to price changes. C) shared equally between the producer and the consumer. D) paid by the wholesalers of these products.