The U.S. Department of Commerce has been developing so-called "green accounting" to:
a. include the value of leisure in the gross domestic product (GDP) of the country.
b. register the impact of pollution and natural resource depletion
c. value the output of new firms.
d. illustrate the difference between nominal GDP and real GDP.
e. measure the value of the output produced by inexperienced workers.
b
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The four-firm concentration ratio for an industry is
A. the number of firms in the industry, divided by four. B. the share of industry output sold by the four largest firms in the industry. C. the percentage of total industry profits claimed by the four largest firms. D. the share of industry output sold by the fourth largest firm in the industry.
Which of the following is a positive macroeconomics statement?
A) The central bank should increase the nation's money supply. B) The increase in the nation's money supply helped push the nation's unemployment rate down in the short run. C) Ford Motor Company's new advertising campaign ended up hurting General Motors' sales. D) The local government ought to spend more on recreational facilities.
Briefly explain how differences in human capital may be the result of discrimination. Give an example.
What will be an ideal response?
In the United States the difference between union and non-union wages
A) does not exist. B) currently averages about more than 100 percent. C) has been narrowing. D) tends to fall during a recession because union members typically have shorter-term contracts than do nonunion employees.