In public education, the value of the services provided is
A) greater than the value that parents and students place on the services.
B) equal to the value that parents and students place on the services.
C) less than the value that parents and students place on the services.
D) zero since they are a public good.
Answer: A
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GDP is the total market value of:
a. All expenditures on natural resources, labor, and capital goods in an economy in a given year b. All intermediate goods and services produced in an economy in a given year c. All final goods and services produced in an economy in a given year d. All expenditures on consumption, investment, and net exports in an economy in a given year
How does this graph show an increase in total revenue?
a. Area a is larger than area c.
b. Area b is larger than area a.
c. Area c is smaller than area b.
d. Area b is equal to area a.
Falling output, in the short run, could be due to:
A. an increase in short-run aggregate supply. B. a reduction in aggregate demand. C. an increase in long-run aggregate supply. D. an increase in aggregate demand.
A variable measures:
A. something that always has the same value. B. something that can take on different values. C. factors that occur with high degrees of uncertainty. D. the degree to which something varies over time.