Suppose Bob works for Mary as a proofreader. Mary and Bob fall deeply in love, marry, and have eight children. Bob stops working for Mary in order to care for the children. What will be the effect on GDP?
A) GDP will not change.
B) GDP will increase.
C) GDP will decrease.
D) GDP may increase or may decrease depending on inflation.
C
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In explaining economic growth, new growth theory stresses the role played by
A) women in the workforce. B) the government in directing the nation's investments. C) population moderation. D) the participation rate of elderly workers. E) human choices.
Christopher just won tickets to see an NFL football game. His coworker offers to pay him $300 for them, but Christopher decides to use them, even though he would never pay $300 for them himself. Christopher's willingness to consume $300 worth of tickets that he doesn't value at $300 is attributed to:
A. the high transactions costs involved in selling the tickets. B. the implicit cost of ownership. C. his refusal to ignore the sunk cost of the tickets. D. None of these is correct.
Individuals behave so as to maximize their utility
a. True b. False Indicate whether the statement is true or false
Once a bond rating is assigned, it:
A. can only change if the rating change is approved by the securities and exchange commission. B. can change as the financial position of the issuer changes. C. can change on the next bond from the issuer but is fixed for the current bond. D. never changes over the life of the bond.