Which of the following actions will decrease the gross domestic product (GDP)?
a. Tom's alarm clock breaks, so he buys a new one
b. Tom buys a new alarm clock because he tends to sleep through the first alarm.
c. Tom's alarm clock breaks. He now oversleeps and has to buy a cup of coffee on the way to work instead of making it at home.
d. Tom gets fired for being late often after his alarm clock breaks.
e. Tom sells his broken alarm clock and uses the money to buy some French fries.
d
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A method of measuring the money supply by looking at money as a temporary store of value is the
A) transactions approach. B) capital control. C) liquidity approach. D) fiduciary monetary system.
Which of the following is the national security argument against free trade?
A) A country must protect firms from dumping by foreign companies. B) A country must protect new industries to give them a chance to mature before facing foreign competition. C) A country must protect its consumers from foreign influences. D) A country must protect industries that produce defense equipment and armaments. E) A country must preserve its jobs.
Refer to the table below. The perfectly competitive firm has a random demand with a 50 percent chance of being $6 and a 50 percent chance of being $8. What quantity should the firm produce to maximize its expected profit?
The above table summarizes the marginal cost of production at various quantity levels for a perfectly competitive firm.
A) 110
B) 140
C) 130
D) 120
If there is a shortage of nurses, it is expected that
a. wages for nurses will go up as hospitals try to fill these positions. b. wages for nurses will go down because of the increased competition between hospitals. c. the return on the human capital investment of current nursing majors will decline. d. wages for nurses currently practicing will increase, but new nurses will experience lower wages in the future.