An example of a good or service that would not count in the U.S. GDP would be:
A. a car made by Toyota in Tennessee.
B. a car made by Ford in Michigan.
C. sneakers made by Nike in Indonesia.
D. sneakers made by New Balance in Ohio.
C. sneakers made by Nike in Indonesia.
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The figure above shows the costs and demand curves for the Bigshow Cable Company. To avoid any deadweight loss in the market served by Bigshow, the regulator must set the price at
A) $8. B) $6. C) $4. D) $2.
The accompanying table below shows the relationship between the number of times you get your car washed each month and your total monthly benefit from car washes. Each car wash costs $15. Number of Car Washes Per MonthTotal Monthly Benefit from Car Washes0$01$202$363$484$565$60 How many times a month should you get your car washed?
A. 2 B. 1 C. 3 D. 4
What do economists mean by "per capita GDP"?
The value of a country's production at current market prices. The value of a country's production adjusted for inflation. The value of a country's production divided by the country's population. The value of all paid and unpaid work in the country.
Favored customers receive special treatment from dealers during periods of excess demand.
Answer the following statement true (T) or false (F)