Which of the following would be included in the government expenditures component of GDP?
A. The export of 100 fighter jets to Japan
B. Construction costs of a new public school building
C. Food stamps used by the Smith family
D. A $1,000 check issued by the federal government as part of the Pell Grant program to help college students pay for school
Answer: B
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? Assume that Figure 4-4 shows demand for steak. An increase in income of buyers will change demand from
A. D1to D2. B. D2to D1. C. D3to D2. D. D3to D1.
With the exception of during recessions, workers in Canada are eligible for unemployment benefits for about twice as long a period of time as workers in the United States. As a result,
A) frictional unemployment is higher, on average, in the United States than in Canada. B) the opportunity cost of job search in Canada is lower than in the United States. C) the average duration of unemployment is longer in the United States than in Canada. D) the unemployment rate in Canada is usually higher than in the United States.
Which of the following statements is FALSE?
A) An increase in income causes an increase in the demand for a normal good. B) An increase in income causes a decrease in the demand for an inferior good. C) A decrease in income causes the demand curve for a normal good to shift to the left. D) An increase in income causes the demand curve for an inferior good to shift to the right.
Porter argues that achieving international success in a certain industry is a function of factor endowments, domestic demand conditions, related and supported industries, and ______.
Fill in the blank(s) with the appropriate word(s).