Adding wages, interest, rent, and profits yields
A) net domestic product at factor cost.
B) gross domestic product at factor cost.
C) total expenditure.
D) GNP.
E) gross domestic product.
A
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The actual budget deficit is equal to the
A) structural deficit minus the cyclical deficit. B) structural deficit plus the cyclical deficit. C) cyclical deficit minus the structural deficit. D) cyclical deficit. E) structural deficit.
Suppose the economy is suffering in a recessionary period. Firms are facing increasing inventories and individual consumers are increasing their saving to prepare for hard times ahead. What is likely to happen to the economy and can it correct itself and grow toward full employment in the short run?
What will be an ideal response?
A(n) ____ can be used to demonstrate why a competitive oligopoly tends to result in a low-price strategy that does not maximize mutual profits.
A. interdependence index B. gini coefficient C. herfindahl index D. payoff matrix
Suppose two power plants pollute a river and both firms operate under a system of marketable pollution permits. If it costs Firm A $90 to reduce pollution by 800 units per day, and Firm B can reduce costs by $115 by increasing pollution by 800 units per day:
A. the firms cannot gain by trading the right to pollute. B. both firms can benefit if Firm A trades the right to increase pollution by 800 units to Firm B for $70. C. both firms can benefit if Firm B trades the right to increase pollution by 800 units to Firm A for $120. D. both firms can benefit if Firm A trades the right to increase pollution by 800 units to Firm B for $100.