Consumer goods:
A.) Account for over two-thirds of total U.S. output.
B.) Include nondurable goods but not durable goods.
C.) Account for a smaller portion of GDP than government services.
D.) Include durable and nondurable goods but not services.
A.) Account for over two-thirds of total U.S. output.
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We have read in this chapter that people with insurance may be more likely to engage in risky behavior because they are insured. Does it make sense then that there should be an "insurance tax" on people that engage in these types of activities?
What will be an ideal response?
_____________ is the utility derived from the payoff and the gamble itself
Fill in the blank(s) with the appropriate word(s).
AFL-CIO stands for:
A. American Federation of Labor-Congress of Industrial Organizations. B. American Federation of Labor-Committee for Industrial Opportunity. C. Assembly of Factory Laborers-Congress of Industrial Organizations. D. Assembly of Factory Laborers-Committee for Industrial Opportunity.
Which set of items in the accompanying list would move an economy from a point inside its production possibilities curve to a point on its production possibilities curve?
1. Improvements in technology. 2. Increases in the supply (stock) of capital goods. 3. Purchases of expanding output. 4. Obtaining the optimal combination of goods, each at least-cost production. 5. Increases in the quantity and quality of natural resources. 6. Increases in the quantity and quality of human resources. A. 3 only B. 1, 3, and 4 only C. 1, 2, 5, and 6 only D. 3 and 4 only