People eat at restaurants less often when their incomes fall because of a recession. Eating at restaurants must be
A) an inferior good.
B) a normal good.
C) a complement to other goods.
D) a substitute for other goods.
E) an inelastic good.
B
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When calculating GDP, underground economic activity is
A) the production of goods and services in the home. B) that portion of the time when we are enjoying leisure activities and not producing marketable goods. C) the part of the economy purposely hidden. D) an aspect of the quality of life, such as health and life expectancy.
Why would a higher tax rate lower the government purchases multiplier? What does the tax rate have to do with the government purchases multiplier?
What will be an ideal response?
The Bureau of :Labor Statistics has been compiling an experimental CPI for the elderly, called CPI-E
a. True b. False
It is likely that efficiency wages will decrease employee effort
a. True b. False Indicate whether the statement is true or false