According to the Ricardian equivalence proposition, current deficits
A. will affect national saving but not consumption.
B. will affect consumption but not national saving.
C. will affect both consumption and national saving.
D. will not affect consumption or national saving.
Answer: D
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Which of the following would be directly counted in U.S. GDP for 2015?
A) a 2015 Mini Cooper, built in Oxford, England, and sold to a computer programmer in San Jose, California B) a 1957 Chevy Bel Air convertible sold by its original owner to a car collector in Nashville on March 1, 2015 C) a 2015 Harley-Davidson Softail Deluxe, built in Pennsylvania, and sold to a kindergarten teacher in Moose Jaw, Saskatchewan, Canada D) a Tesla car battery, built in 2014 in California, to be installed in a new 2015 Tesla Model S
A bakery producing bread reports the following production information:
# Workers Total Product (loaves of bread per hour) 0 0 1 35 2 65 3 85 4 100 5 110 The bread sells in a competitive market at a price of $0.30 each. The firm hires workers in a competitive labor market at a wage of $7 per hour. How many workers should the firm hire? Explain your answer.
The labor force participation rate:
A. is measured by the labor force divided by the total population. B. tells us what fraction of the working-age population wants to be working. C. typically rises during periods of recession. D. is measured by those employed divided by the working-age population.
In average cost pricing, the natural monopoly would have to set price equal to
A) AFC. B) AVC. C) ATC. D) MC.