Which of the following is included in Singapore's GDP?
a. The value of production by a Singaporean working in the U.S.
b. The value of production by an American working in Singapore
c. The value of production by a Singaporean that crosses the border to work in Malaysia.
d. All of the above are correct.
b
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Refer to the above table. The table gives the combinations of real disposable income and real consumption for a college student for a year. What does planned real saving equal when real disposable income equals $6,000?
A) -3,000 B) -1,200 C) 0 D) 7,200
Segmenting based on lifestyle and social class is categorized as
Sociodemographic Psychographic Cohort Usage
Consider two people, Sandy Smith, who earns $25,000 . and Gary Carver, who earns $50,000 . If the government has decided to tax everyone's first $25,000 at 20 percent and everyone's second $25,000 at 40 percent, then:
a. Gary and Sandy both pay taxes of the same percentage of total income. b. Gary and Sandy pay the same amount of taxes. c. Gary pays twice the tax amount Sandy pays. d. Gary pays three times the tax amount Sandy pays. e. Sandy does not pay taxes.
The basic difference between macroeconomics and microeconomics is:
a. microeconomics concentrates on individual markets while macroeconomics focuses primarily on international trade. b. microeconomics concentrates on the behavior of individual consumers while macroeconomics focuses on the behavior of firms. c. microeconomics concentrates on the behavior of individual consumers and firms while macroeconomics focuses on the performance of the entire economy. d. microeconomics explores the causes of inflation while macroeconomics focuses on the causes of unemployment.