Which of the following is included in GDP, but may not have been economically beneficial?
a. Building schools
b. Water treatment plant construction
c. Residential alarm installations
d. Airport construction
c. Residential alarm installations
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If sellers compete against buyers, then
A) sellers would prefer to face more buyers in the market. B) sellers would prefer to face fewer buyers in the market. C) buyers would prefer to face fewer sellers in the market. D) buyers would prefer to face more sellers in the market. E) both B and C are true.
Use Figure 13.2 which depicts a monopolist firm to help with the following question. Define the area of total revenue that this firm will collect if it is maximizing profit. Use the letters that appear on the graph to identify the area
What will be an ideal response?
An efficiency wage ________ because ________
A) increases job rationing; the real wage rate is lowered below the equilibrium B) decreases job rationing; the real wage rate is lowered below the equilibrium C) is used often; it is inexpensive and effective D) increases job rationing; the real wage rate is raised above the equilibrium E) decreases job rationing; the real wage rate is raised above the equilibrium
All secondary trading of municipal bonds occurs
A) through commercial banks. B) in the over-the-counter market. C) through life insurance companies. D) in the New York Municipal Bond Market.