Full-employment GDP is also known as
A) realized GDP.
B) potential GDP.
C) politico-economic GDP.
D) balanced-budget GDP.
Answer: B
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The property rights people actually possess
A) are limited to the rights sanctioned by law. B) are the rights they can exercise regardless of what others do. C) are the similar rights they grant other because all rights in a society must be mutual. D) depend heavily on the cooperation of other people.
Which of the following is true at the point where diminishing returns set in?
a. Both marginal product and marginal cost are at a maximum. b. Both marginal product and marginal cost are at a minimum. c. Marginal product is at a maximum and marginal cost at a minimum. d. Marginal product is at a minimum and marginal cost at a maximum.
Two goods are substitutes if:
A) an increase in the price of one leads to a shift to the left in the demand curve for the other. B) an increase in the price of one leads to an increase in demand for the other. C) an increase in the price of one will increase the supply of the other. D) a fall in the price of one leads to a reduction in supply for the other.
Tom buys a futures contract for U.S. Treasury bonds and on the settlement date the interest rate on U.S. Treasury bonds is higher than Tom expected. Tom will have:
A. gained money on his long position. B. gained money on his short position. C. lost money on his short position. D. lost money on his long position.