The best measure of how much output the average person would get if all output were divided evenly among the population would be
A. GDP.
B. The capital stock of the economy.
C. The economic growth of the economy.
D. Per capita GDP.
Answer: D
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How might the existence of federally funded programs for the poor reduce the amount of charitable giving?
What will be an ideal response?
The U.S. legal system mainly engages in activities that
A) are dedicated to producing private goods. B) focus on income redistribution. C) involve defining and protecting property rights. D) focus on producing public goods.
The balance of trade is measured by which of the following expressions?
a. The value of exported goods and services minus the value of imported goods and services b. The value of income receipts on investments minus income payments on investments c. The value of goods exports minus the value of goods imports d. The value of government spending minus the value of all taxes received e. The balance on capital account plus the balance on current account
Over time, continued budget deficits lead to
a. a higher capital stock and higher productivity. b. a higher capital stock and lower productivity. c. a lower capital stock and higher productivity. d. a lower capital stock and lower productivity.