When the federal government owns parks that are funded by tax dollars
a. park managers receive full information about visitor desires and make decisions accordingly.
b. the same incentive structure exists for public park managers as private park managers.
c. park managers devote much time and effort to satisfying political desires instead of visitor desires.
d. park managers will be less likely to mismanage the park.
C
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Suppose the U.S. economy is producing at the natural rate of output. A depreciation of the U.S. dollar will cause ________ in real GDP in the short run and ________ in inflation in the short run, everything else held constant
(Assume the depreciation causes no effects in the supply side of the economy.) A) an increase; an increase B) a decrease; a decrease C) no change; an increase D) no change; a decrease
A graph that shows the cumulative shares of income received by a family is a:
a. Distribution curve. b. Lorenz curve. c. Ricardian curve. d. Quintlile curve.
The output produced by domestically owned firms in foreign countries is included in the U.S. GDP but not in the U.S. GNP
a. True b. False Indicate whether the statement is true or false
The price elasticity of supply is the __________________ change in the quantity supplied of a good or service divided by the percentage change in the price.
a. quantity b. percentage c. relative d. absolute