A distinguishing characteristic of public transfer payments is that they ________.
A. involve no contribution to current production in return for the payment
B. include the cost of maintaining public parks
C. are counted as part of government purchases in the calculation of the gross domestic product
D. include wages to government workers
Answer: A
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If Katie purchases two slices of pizza and six breadsticks to maximize her total utility, then
A) a slice of pizza costs three times as much as a breadstick. B) a breadstick costs three times as much as a slice of pizza. C) her marginal utility from the second slice of pizza divided by the price of a slice of pizza is equal to her marginal utility from the sixth breadstick divided by the price of a breadstick. D) Both answers A and C are correct.
The current account in a nation's balance of payments accounts includes
a. exports of U.S. computers b. imports of German automobiles. c. purchases of foreign stocks. d. Both a and b e. All of the above
If marginal cost exceeds average total cost:
A. average variable cost increases as output increases. B. average variable cost decreases as output increases. C. average total cost decreases as output increases. D. average fixed cost increases as output increases.
The natural rate of unemployment:
A. can vary over time and will differ across countries. B. can vary over time but tends to be the same across countries. C. tends to remain constant over time but at different levels for different countries. D. tends to remain constant over time and is the same across countries.