Government policies can change the costs and benefits that people face. Those policies have the potential to
a. alter people's behavior.
b. alter people's decisions at the margin.
c. produce results that policymakers did not intend.
d. All of the above are correct.
d
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.Greg, a U.S. citizen, works only in Canada. Where is the value that his labor contributes to put in national income accounting?
What will be an ideal response?
Which of the following best characterizes the main difference between the Consumer Price Index (CPI) and the GDP deflator?
a. One is more accurate than the other. b. One is more useful than the other. c. One is more general than the other. d. One is more trend-focused than the other.
When the economy experiences a prolonged recession, the percent of the population who are unemployed 27 weeks of longer:
A. decreases. B. increases. C. may increase or decrease. D. does not change.
Which of the following reflects changes in expenditure patterns as well as price changes?
A. The PPI. B. The COLA. C. The GDP deflator. D. The CPI.