The most commonly used metric for measuring the value of a national economy is:
A. gross domestic product, or GDP.
B. gross national product, or GNP.
C. gross national income, or GNI.
D. gross domestic income, or GDI.
A. gross domestic product, or GDP.
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High inflation
A) makes money function less well as a store of value. B) lowers the price level. C) leads to a more correct allocation of resources. D) decreases uncertainty. E) makes it easier to use money as a standard of account.
Where pollution is prevalent, we might expect that
a. externalities are being effectively internalized b. marginal social costs are greater than marginal private costs c. marginal costs are greater than marginal benefits d. marginal private costs are greater than marginal social costs e. externalities are not important
Since 1955, the percentage of U.S. workers who are union members has increased from one in seven to one in three
Indicate whether the statement is true or false
The unemployment rate was falling during all of the years that I was a student, but as soon as I graduated, the unemployment rate started to rise. Therefore, the job market was waiting until I started looking for employment to start to go bad. This statement is an example of
A. fallacy of logic. B. fallacy of inductive reasoning. C. ceteris paribus fallacy. D. post hoc, ergo propter hoc fallacy.