Of the following, which is the least likely to be an example of substitute goods?
A) beer and pretzels
B) margarine and butter
C) beef and chicken
D) tea and coffee
A
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By providing in-kind benefits such as company cars, a company benefits because _____
a. they can pay less for employees b. their employees are late less frequently c. employees are grateful d. they are taxed as ordinary income not business expenses
When "stagflation" occurs
A) the economy experiences higher inflation rates and lower unemployment rates at the same time. B) the economy experiences lower inflation rates and higher unemployment rates at the same time. C) the economy experiences lower inflation rates and lower unemployment rates at the same time. D) the economy experiences higher inflation rates and higher unemployment rates at the same time.
The Latin phrase ceteris paribus means that when a relationship between two variables is being studied:
A. both are treated as unpredictable. B. neither of those two variables is allowed to change. C. all other variables are held fixed. D. we recognize that some factors are unknown.
If GNP is $200 billion, receipts of factor income from the rest of the world are $10 billion, and payments of factor income to the rest of the world are $30 billion, then GDP is
A. $160 billion. B. $210 billion. C. $220 billion. D. $240 billion.