The reason some insurance customers are more eager to purchase insurance is
a. they are more risk averse
b. they are less risk averse
c. they have a greater risk of making a claim
d. A and C
d
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If the federal government runs a budget deficit, but the budget deficit as a percent of GDP is less than the growth rate of real output, the:
a. national debt will decrease as a share of GDP. b. national debt will remain a constant share of GDP. c. national debt will increase as a share of GDP. d. size of the national debt (in dollar value) will decline.
Because capitalism is practiced in the United States, misleading advertising is permitted.
a. true b. false
Which sequence of events accurately captures the wealth effect of a change in the price level?
a. Price level changes, interest rate changes, and quantity of real GDP demanded changes. b. Consumer spending changes, price level changes, and net exports change. c. Investment changes, interest rate changes, and net exports change. d. Price level changes, consumer spending changes, and quantity of real GDP demanded changes.
Suppose that homemakers are included as employed in the labor force statistics, rather than being counted as out of the labor force. This would
A) increase the measured unemployment rate. B) increase the measured labor force participation rate. C) decrease the number of persons in the labor force. D) decrease the number of persons in the working-age population.