In the year 2014, the real GDP of Country A was $12.3 trillion. The nominal GDP calculated in the same year was $13.53 trillion. The value of the GDP deflator for Country A in 2014 was:
a. 110.
b. 105.
c. 107.
d. 112.
a
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Explain why financial intermediaries are necessary to facilitate the movement of funds from savers to investors and how they provide benefits to both groups
What will be an ideal response?
As a result of losing his job, Uncle Roy dropped his cable TV service and instead bought a new iPod. For Uncle Roy,
A) cable is an inferior good and the iPod is a normal good. B) cable is a normal good and the iPod is an inferior good. C) both cable and the iPod are normal goods. D) both cable and the iPod are inferior goods. E) cable and the iPod are complementary goods.
The distributions of tax burdens among various groups in society is known as
A) a proportional tax. B) a progressive tax. C) a regressive tax. D) tax incidence.
Which of the following is not a common response to the moral hazard problem that employers face?
a. offering all employees some funding for additional education b. paying efficiency wages c. requiring employees to provide itemized receipts for reimbursable expenses d. paying year-end bonuses rather than higher monthly earnings