How does GDP deal with a Toyota produced in Kentucky?

A. It is not counted at all.
B. Is counted at twice the value.
C. It is partially counted.
D. It is fully counted.


Answer: D

Economics

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Which barrier to entry is an exclusive right granted to the author or composer of a literary, musical, dramatic or artistic work?

A) patent B) copyright C) public franchise D) government license E) natural barrier

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What is the government’s primary method for providing public goods and reducing free riders?

a. Requiring citizens to pay taxes b. Shifting R&D to private firms c. Investing in higher education d. Guaranteeing intellectual property rights

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Ninety percent of spending on education happens at the ______________ level.

a. federal b. federal and state c. state d. state and local

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A firm that has little ability to influence market prices operates in a

a. competitive market. b. strategic market. c. thin market. d. power market.

Economics