In-kind wages are not included in GDP
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Which of the following categories of federal spending is the largest in the United States?
A) interest on federal debt B) mandatory spending C) discretionary spending D) national defense
Refer to the table above. If there is a sixth unit that Jenny consumes, and the marginal benefit derived from that unit is -1, the total benefit derived when the sixth unit has been consumed is:
A) $0. B) $3. C) $29. D) $39.
A political equilibrium can never be reached without voters, firms, politicians and ________
A) bureaucrats B) public costs C) indifference curves D) market prices
Which of the following is a difference between monopoly and perfect competition?
a. Positive economic profits earned by perfectly competitive firms result in deadweight loss, while positive economic profits earned by a monopoly result in the production of a socially efficient output level. b. Positive economic profits earned by firms in a perfectly competitive market attract new firms into the market, causing profits to increase over time, while barriers to entry protect a monopolist's profits. c. Positive economic profits earned by a monopolist attract new firms into the industry, while barriers to entry protect profits of a perfectly competitive firm. d. Positive economic profits earned by firms in a perfectly competitive market attract new firms into the market, causing profits to decrease over time, while barriers to entry protect a monopolist's profits.