This month Jones bought $10 of fresh hops for making home-brewed lager. In principle, what happens to GDP?
A) Nothing, because it involves the production of homemade beer.
B) Nothing, because the hops are an intermediate good.
C) GDP increases by $10.
D) GDP increases by $10 as long as Jones is satisfied with the final product.
C
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Explain why both rich and poor people experience scarcity
What will be an ideal response?
There is evidence to suggest that slaves were commonly sold and families were often separated
Indicate whether the statement is true or false
The American individual income tax is:
A. progressive. B. regressive. C. proportional. D. a lump sum.
Public goods are desired because
A) people want and value them but the private sector will not make them available. B) we want the government to spend our tax dollars. C) they came in small units. D) they make supply equal to demand for private goods.