GDP measures:
A. expenditure on all final goods and services.
B. total income of everyone in the economy.
C. total value added by all firms in the economy.
D. All of the answers are correct.
Ans: D. All of the answers are correct.
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Equilibrium Interest Rate
A numerical limit imposed by a government on the quantity of a good that can be imported into the country is called a
A) barricade. B) quota. C) tariff. D) quantity floor.
Figure 3.6 illustrates a set of supply and demand curves for hamburgers. An increase in supply and an increase in demand are represented by a movement from:
A. point d to point b. B. point d to point a. C. point c to point a. D. point b to point c.
Which of the following is a possible benefit of labor unions?
A. They may help firms to retain a more experienced workforce. B. They may help firms reduce training costs of new employees. C. They may facilitate communications between workers and managers. D. All of these