If the economy was producing at point D and moved to point C
A. the unemployment rate would decrease.
B. the production possibilities frontier would shift outward.
C. the production possibilities frontier would shift inward.
D. None of these choices are true.
D. None of these choices are true.
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The Department of Transportation certifies motorcycle helmets, and all helmets certified carry a "DOT" logo. This is an example of
A) government overreach. B) screening. C) signalling using established standards. D) licensing to restrict entry by helmet manufacturers.
One of the elements of monopolization is
A) having a superior product or having a superior business acumen.. B) the possession of monopoly power in the relevant market. C) when only one firm exists in an industry. D) having a significant pricing power due to an accident in the relevant market.
Answer the following questions:
a. In 2004, four major hurricanes hit Florida. Explain how this destruction of property, and the rebuilding that went on afterward, affected GDP. b. Explain how GDP has trouble accounting for other parts of the economy as well.
The value of any index for the base period is
A) 1. B) 0. C) -1. D) none of the above.