National income equals
A) net national product minus statistical discrepancy.
B) gross national product minus depreciation.
C) GNP minus depreciation and taxes on production and imports.
D) net national product minus taxes on production and imports and employer contributions to Social Security.
A
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Unanticipated inflation will insure that
A) homeowners with outstanding mortgage balances are hurt. B) homeowners with outstanding mortgage balances are benefited. C) creditors gain, debtors lose. D) none of the above
According to the U.S. Department of Justice Merger Guidelines, a Herfindahl-Hirschman index (HHI) above ________ is associated with a highly concentrated industry. Therefore, if the automobile industry had an HHI of 2,200, then a vertical merger between GM and one of its suppliers likely would be:
A. 2,400 and approved since the HHI is below the acceptable threshold B. 1,800 and rejected since the HHI is above the acceptable threshold C. 1,300 and rejected since the HHI is above the acceptable threshold D. None of the answers are correct
If the CPI in 2015 was 114.7 and the CPI in 2016 was 124.5, then the rate of inflation between 2015 and 2016 was
A. 7.9%. B. 8.5%. C. 9.8%. D. 14.7%.
Your favorite holiday is Halloween and each year you decorate your yard with pumpkins, skeletons, and tombstones, and you install a noise machine which blasts haunting sounds 24 hours a day. It is such a spectacle that hundreds of people drive by your house each day to gawk at the display. The noise and traffic disturb your neighbors who sue you, and you are required to take down your display permanently. This is an example of
A. the free-rider problem. B. a liability rule. C. the Coase theorem. D. an injunction.