Refer to the following table:
What is the net benefit of the 6th unit of the activity?
A. 50
B. 45
C. -39
D. 0
E. none of the above
Answer: A
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Genovia produced 10 million tonnes of wheat in a particular year. However, 1 million tonnes got infested with pests and had to be thrown away. How will this affect the calculation of the gross domestic product of the country for that year?
What will be an ideal response?
Which of the following is a reason why the union wage gap might underestimate the actual effect unions have on wages?
A. Unions typically attract the most productive workers to the application pool. B. The union wage gap can be overestimated but never underestimated. C. Nonunion firms may pay higher wages in order to prevent its workers from unionizing. D. Nonunion jobs will have excess labor available to them because firms will restrict entry into union jobs, and competition for this excess labor competes down the observed nonunion wage. E. Unions target high-paying firms.
During the last half of 2008 and the first half of 2009, the congress passed and the President signed two bills totaling about _______________ in an attempt to avert the Great Recession.
A. $700 billion B. $800 billion C. nearly $1.5 trillion D. more than $2.0 trillion
Interest paid by businesses is
A. included in both GDP and national income. B. not counted in GDP because it is not assumed to flow from the production of goods and services. C. counted in national income, but not in GDP. D. not counted in GDP but is counted in GNP because it is paid by U.S. businesses.