Inventories are goods that can be considered as "purchased" by
a. the firms that produce them.
b. the consumers that ultimately buy them.
c. the government since they are tax deductible.
d. no one since they are not counted as part of GDP.
a
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If a life insurance company offers coverage regardless of age, health status, or smoking history, it is likely to suffer
A) moral hazard problems. B) adverse selection problems. C) lower costs. D) low demand for its product.
In the United States in 2015, government purchases of goods and services were
a. larger than consumption, but smaller than investment. b. larger than investment, but smaller than consumption. c. smaller than both consumption and investment. d. larger than both consumption and investment.
The exceptional economic growth in East Asia during the last half of the twentieth century was in large part due to governments in this region ______.
a. limiting the number of births b. encouraging citizens to spend and consume rather than save c. ensuring good basic education for their citizens d. protecting citizens’ property rights
Assuming that labor is the only variable input, if society values a good ________ it costs firms to hire the workers to produce that good, the good ________ be produced.
A. less than; will B. less than; will not C. equal to what; will not D. more than; will not