The "underground economy" is also referred to as
A) the informal sector. B) the halfway economy.
C) the net domestic product economy. D) the formal sector.
A
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Rate of return regulation, as currently applied to many natural monopolies such as public utilities,
A) generally involves the use of price caps. B) gives the firms an incentive to inflate their costs. C) gives the firms an incentive to cut their costs as much as possible. D) generally keeps their prices higher than if they were unregulated monopolists.
Since reserve requirements on time and savings deposits were phased out in the early 1990s,
a. only the M1 money multiplier is affected by increases in time and savings deposits. b. only the M2 money multiplier is affected by increases in time and savings deposits. c. neither the M1 nor the M2 money multipliers are affected by increases in time and savings deposits. d. both the M1 and M2 money multipliers are affected by increases in time and savings deposits.
Which of the following statements best describes the changes in life expectancy between 1940-2000 in the US?
a. The life expectancy of females increased substantially but there was little change for males. b. The life expectancy of African American males is higher than that of African American females, but the life expectancy of white males is lower than that of white females. c. The life expectancies of people of all races has remained about the same as advances in health have been offset by declines due to environmental factors. d. The life expectancy of people with Down's Syndrome grew by about 25 times, and the life expectancy of African Americans grew faster than the life expectancy of whites.
An economist's measurement of profit differs from an accountant's in that: a. accountants calculate total revenue differently than do economists
b. economists do not always include all of the opportunity costs when calculating total production costs. c. accountants do not always include all of the opportunity costs when calculating total production costs. d. economic profit generally exceeds accounting profit.