Which of the following is not directly counted in GDP?
A) investment expenditures
B) government purchases
C) intermediate goods
D) consumer goods
Answer: C
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A monopoly restricts output and charges a higher price than other types of firms
a. True b. False Indicate whether the statement is true or false
Indexation refers to
a. a process of adjusting the nominal interest rate so that it is equal to the real interest rate. b. using a law or contract to automatically correct a dollar amount for the effects of inflation. c. using a price index to deflate dollar values. d. an adjustment made by the Bureau of Labor Statistics to the CPI so that the index is in line with the GDP deflator.
The marginal cost of pollution abatement is graphically illustrated by
A. a vertical curve. B. a downward sloping curve. C. a horizontal curve. D. an upward sloping curve.
The figure above shows the supply curve for soda. The market price is $1.00 per soda. The producer surplus from all the sodas sold is
A) $0.00. B) $15.00. C) $20.00. D) $1.00. E) None of the above answers is correct.