Adding up the market value of all final and intermediate goods and services in an economy in a given year would result in ________.
A. the calculation of NDP for that year
B. an amount less than GDP for that year
C. an amount greater than GDP for that year
D. the calculation of GDP for that year
Answer: C
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The period from the late 1990s to the winter of 2000 was marked by falling unemployment rates and falling inflation rates as well. How does economic theory explain this apparent violation of the Phillips curve model?
The U.S. Social Security tax is an example of a
A) progressive tax. B) proportional tax. C) premium tax. D) regressive tax.
Are all efficient outcomes also equitable? Explain
What will be an ideal response?
Which is NOT an example of signaling high quality in a social setting
a. wearing a business suit on a job interview b. leaving a big tip for the waiter after a dinner date c. offering a cheap engagement ring to your bride d. Visiting the beauty salon before a big date