A shortcoming of national income accounting is that it ignores:
a. the depreciation of manufactured capital
b. spending by poor households who are receiving government transfer payments.
c. spending on intermediate goods.
d. the depletion of natural resources.
e. U.S. products that are sold overseas.
d
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One of the strengths of a socialist economy, according to those who advocate such a system, is that government intervention will enable a more equitable distribution of income and therefore goods and services produced
a. True b. False Indicate whether the statement is true or false
Which of the following is not an example of a compensating differential?
a. paying workers who do dull, boring work higher wages than workers who do fun, interesting work, all else equal b. paying workers who work on the night shift higher wages than workers who work the day shift, all else equal c. paying workers who do more dangerous work higher wages than workers who do less dangerous work, all else equal d. paying workers with PhDs higher wages than workers with BAs, all else equal
Which of the following is(are) basic feature(s) of a perfectly competitive industry?
A. Buyers and sellers have perfect information. B. There is free entry and exit in the market. C. There are no transaction costs. D. All of the statements associated with this question are correct.
Assume the overall price level changes, ceteris paribus. Considering this, which of the following accurately explains a difference between the short-run aggregate supply (SRAS) curve and the long-run aggregate supply (LRAS) curve?
a. There is movement along the SRAS curve but not the LRAS curve. b. The quantity of real GDP supplied changes for the LRAS curve but not for the SRAS curve. c. Both the SRAS curve and the LRAS curve shift. d. The quantity of real GDP supplied changes for the SRAS curve but not for the LRAS curve.