The most likely substitute good for hot dogs would be:
A. burgers.
B. potato chips.
C. ketchup.
D. a plate.
Answer: A
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If the economy is falling below potential real GDP, which of the following would be an appropriate fiscal policy to bring the economy back to long-run aggregate supply? An increase in
A) government purchases. B) oil prices. C) the money supply and a decrease in interest rates. D) taxes.
Refer to the table below. The expected value of the price of the input in Country A is ________ the expected value of the input in Country B.
The above table provides the probability distribution of price of an input next year in Country A and Country B.
A) greater than
B) twice
C) the same as
D) less than
A good that has social costs that are less than private costs has a quantity that is
A) too high. B) too low. C) just right. D) equal to zero.
In-kind wages are not included in GDP
a. True b. False Indicate whether the statement is true or false