Both the value of hamburgers sold by a restaurant and the value of the beef it used to make these hamburgers are included in GDP
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to Table 2.3. Nominal GDP in 2007 is
A) $320.63. B) $490.00. C) $568.00. D) $1282.50.
Which of the following is NOT a regulation applying to swap dealers as a result of the Dodd-Frank Act?
A) Swaps must be traded through a clearinghouse. B) The value of swap contracts are limited to no more than $8 billion. C) Dealers are required to deposit a fraction of the value of the contract with the clearinghouse. D) Data on trades must be publicly available.
Military expenditures in democratic nations may be _____
a. too low because politicians have long time horizons b. too low because politicians have short time horizons c. too high because politicians have long time horizons d. too high because politicians have short time horizons
If the Gini coefficient for the United States is 0.47 and that for India is 0.36, which of the following statements is true?
a. The U.S. being an industrialized nation has a lower income inequality than India. b. The Lorenz curve for the U.S. lies above the Lorenz curve for India. c. India, in spite of being a developing nation, has lesser income inequality than the U.S. d. The Lorenz curve for India would coincide with the line of perfect equality. e. The distribution of income in both the economies are equal.