Creating policy with the goal of increasing economic growth would be considered:
A. to only help if directed toward poor areas.
B. to indirectly hurt efforts to eliminate poverty.
C. to indirectly help eliminate poverty.
D. None of these is true.
Answer: C
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Which adjustment(s) must be made to convert net domestic product to GDP?
i. add indirect taxes ii. subtract subsidies iii. add depreciation A) i, ii and iii B) i and ii C) iii only D) i and iii only E) ii only
In a small town, Marilyn's Christmas Tree Lot has a monopoly on sales of Christmas trees. In order to increase her sales from 100 trees to 101 trees, she must drop the price of all of her trees from $20 to $19. What is the marginal revenue?
A) $2000 B) $20 C) $19 D) negative $81
If a central bank wants to keep the value of its home currency fixed in the foreign exchange market, then an increase in the demand for its home currency will lead the central bank to
A) do nothing. B) sell its home currency. C) buy its home currency. D) sell foreign currencies.
Something is valuable if:
A. it does not involve a trade-off. B. it is a good or a service. C. someone wants it. D. it was made using resources.