The music production industry is an example of a(n) ________ industry.
A. monopolistically competitive
B. oligopolistic
C. monopolistic
D. perfectly competitive
Answer: B
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Who helps calculate GDP in the United States?
A) the Bureau of Economic Analysis B) the Census Bureau C) the Bureau of Labor Statistics D) all of the above E) none of the above
Refer to Table 15.3. Based on the data in the table, the primary budget deficit necessary to make fiscal policy sustainable in Cordelia is ________ of GDP
A) -1.5% B) 0% C) 1.5% D) 14.6%
Which of the following is the best example of an investment in human capital?
a. on-the-job training received by an apprentice electrician b. an increase in the number of hours worked per week by a worker in an unskilled laboring job c. the purchase of company stock by a worker d. payments into a retirement pension plan by a skilled laborer
An externality is defined as
a. an opportunity cost that is not considered, which causes inefficiency. b. a social cost that affects parties external to a transaction. c. a transaction which imposes a loss on one of the parties involved. d. a "cost of doing business" that cannot be allocated to any particular good. e. the increase in cost associated with increased production.