The computation of GDP by adding up the dollar value at current market prices of all final goods and services is
A. the income approach.
B. transfer payments.
C. the value of all securities.
D. the expenditure approach.
Answer: D
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
Labor productivity increases if i. human capital decreases. ii. technology advances. iii. quality of education decreases
A) i only B) ii only C) iii only D) Both i and ii E) Both ii and iii
One way the government decides how to pay for public goods is:
A. how easy it is to exclude people who don't pay. B. determining who uses the good the most and increasing their property taxes. C. comparing individual's marginal benefits of the good. D. polling the public about the most appropriate funding measures.
Which of the following is true? a. When real interest rates are lower in country A than country B there will tend to be a capital flow from country B to country A. b. Capital flows tend to move real interest rates in different countries toward equality
c. Capital flows will tend to decrease real interest rates in countries with a capital outflow. d. Both b. and c. are correct.