Which of the following is counted in the GDP in a given year?
A. the dollar value of the housework done by a stay-at-home mom
B. the sale of a used Mazda convertible
C. the sale of a new screwdriver
D. the sale of Facebook stock
Answer: C
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If the natural monopoly shown in the figure above is unregulated, it will sell
A) 2 million units. B) 3 million units. C) 4 million units. D) 5 million units.
A positive spending shock ________ real interest rates and ________ output in the short run, thereby its effect on stock prices is ________
A) raises; lowers; positive B) raises; raises; ambiguous C) lowers; raises; negative D) lowers; raises; positive
Historically, investment in stocks have been a prudent investment
A. because stock prices have stayed roughly constant over time. B. because stock prices have generally risen over time. C. because stocks no longer carry any underlying risk. D. because stocks can easily be converted to corporate bonds.
Tampering with the price mechanism
a. can be efficient for a while. b. cannot be attempted in a market economy. c. can enhance societal welfare if done properly. d. often produces undesired side effects.