Using the expenditure approach, which of the following is added to consumption, investment, and government purchases to arrive at GDP?
a. The value of "free" household services provided by at-home spouses rather than a paid cook, maid, and baby sitter.
b. The value of resale goods produced in the economy.
c. The unpaid-for services provided by the natural environment, such as breathable air.
d. The value of exports minus the value of imports.
d
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Which of the following is true at the output level where P=MC?
A) The monopolist is maximizing profit. B) The monopolist is not maximizing profit and should increase output. C) The monopolist is not maximizing profit and should decrease output. D) The monopolist is earning a positive profit.
Which is least likely to help in understanding who bears the tax incidence?
A. Supply elasticity B. Demand elasticity C. Who the tax is levied on D. Whether or not supply is fixed
Sticky wages cause the:
A. short-run aggregate supply curve to slope upward. B. long-run aggregate supply curve to slope upward. C. short-run aggregate supply curve to slope downward. D. long-run aggregate supply curve to slope downward.
________: the monetary amount by which a nation's merchandise imports exceed imports during a given time period, usually one year
Fill in the blank(s) with correct word