The total volume of business sales in our economy is several times as large as the GDP because:
A. the GDP excludes intermediate transactions.
B. the GDP grossly understates the value of our annual output.
C. the GDP does not take taxes into account.
D. total sales are in money terms and GDP is always stated in real terms.
Answer: A
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The above table has data from the nation of Atlantica. Based on these data, autonomous consumption is
A) $5.8 trillion. B) $1.8 trillion. C) $2.6 trillion. D) $3.2 trillion. E) $4.0 trillion.
During World War II, prisoners of war used ________ as money
A) chocolate B) cigarettes C) bullets D) cowrie shells
Susie spends more of October thinking about her Halloween costume than she spends thinking about a proposed law that will be on the November ballot. Which of the following is true?
a. This behavior is rational if she expects a greater benefit from the costume than from any possible effect her vote could have on the proposed law. b. This behavior is rational if she is planning to spend the time from Halloween to Election Day thinking about the law. c. This behavior is not rational because the law is more important than the costume. d. In order for this behavior to be considered rational, it would have to be true that Susie is too ignorant to fully understand the law. e. In order for this behavior to be considered rational, it would have to be true that Susie would not be affected by the law.
It is possible that if a monopoly is broken up, the cost of production for that product could increase
a. True b. False Indicate whether the statement is true or false