Which of the following activities would be calculated as part of GDP accounts?
A. Drug trafficking.
B. Money laundry.
C. Prostitution.
D. Purchasing plastic surgery.
Answer: D
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Where Y is GDP, C is consumption, I is investment, G is government purchases, T is net taxes, and there is no international trade, public saving equals:
A. Y - T - C. B. T - G. C. Y +T - G. D. Y - C - T.
Anita is the retired president of Claddagh College and currently serves on the board of directors of the Patrician Pharmaceutical Company. Anita is considered ________ of the company
A) a silent partner B) an outside director C) a managing director D) an inside director
Which of these does not hold true if an economy is simultaneously in long-run and short-run equilibrium? a. The actual price level equals the expected price level
b. Aggregate quantity supplied equals potential output. c. Aggregate quantity demanded equals potential output. d. Aggregate quantity supplied equals aggregate quantity demanded. e. Aggregate demand curve is horizontal at the potential output level.
The DeBeers Diamond Company, which owns most of the South African diamond production, has market power over the diamond trade. This market power was obtained through: a. illegal means
b. control of a scarce resource. c. patent protection. d. government licensing.