GDP based on the expenditure approach includes:
a. depreciation, rent, automobile sales, and stock purchases.
b. inventory changes, stock dividends, imports, and bank payments to customers.
c. consumption, investment, government purchases, and net exports.
d. wages, interest, rent, and profits from production.
c
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The price elasticity of demand for meat in general is inelastic while the price elasticity of demand for turkey or chicken is more elastic. Why?
A) Turkey and chicken are not red meat. Because they are not the same as other meats, they should have different elasticities. B) Turkey and chicken have many substitutes, such as fish or beef, while meat in general has fewer substitutes. C) Turkey and chicken are inferior goods. D) Turkey and chicken are normal goods.
Which of the following is likely protected by copyright?
A) Your recipe for chocolate cake B) Your autobiography C) The color scheme for your house D) The names of your children
The average duration of unemployment across the labor force is about
A) 25 weeks. B) 15 weeks. C) 8 weeks. D) 4 weeks.
This __________ declared that price discrimination is illegal especially when it decreases competition
a. Robinson-Patman Act b. Sherman Antitrust Act of 1890. c. Merger Act d. Federal Trade Commission Act.