Which of the following is included in the GDP?
A) the current services flowing from the housing stock
B) the estimated value of drugs sold illegally
C) the estimated value of leisure time
D) transfer payments such as Social Security and veterans' benefits
E) private purchases of used assets
A
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The above figure shows Bobby's indifference map for juice and snacks. Also shown are three budget lines resulting from different prices for snacks assuming he has $20 to spend on these goods
Which of the following points are on Bobby's demand curve for snacks? A) p = 2, q = 10 B) p = 2, q = 13 C) p = 2, q = 5 D) p = 1, q = 20
Which of the following groups would not tend to lose from unexpected inflation? a. Retirees on fixed pensions
b. Creditors. c. Those whose incomes are tied to long-term contracts. d. Those whose wages have cost of living adjustment clauses in their contracts.
The idea of linking public school teacher salaries to student outcomes is basically an attempt to impose a ________ compensation scheme on teachers.
A. profit sharing B. work-for-pay C. piece rate D. time rate E. tournament
Insurance leads to taking less risk.
Answer the following statement true (T) or false (F)