Which of the following does not contribute to GDP?
a. You lose $50 playing cards with friends.
b. You pay a doctor $200 to treat an arm that you broke in an accident.
c. You pay $300 for this month's rent on your apartment.
d. Your economics textbook is revised, and you buy the new edition.
A
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In 1938, another Agricultural Adjustment Act was passed. The error of the 1933 Act was now avoided. What had that error been?
(a) Acreage allotments (b) Combining provisions for conservation with subsidies (c) Imposition of specific taxes on food processors (d) Excessive delegation of power
The decision by the federal government to prohibit cigarette companies from advertising on television actually caused the companies' profits to increase, an outcome that is consistent with the prediction of the prisoner's dilemma game
Indicate whether the statement is true or false
The Federal Reserve Bank of New York
A) executes open market operations. B) sets reserve requirements. C) establishes the prime rate. D) establishes the three-month Treasury bill rate.
The per capita real GDP in Sri Lanka is likely to be lower than the United States because Sri Lanka's economy is characterized by:
a. a more equitable income distribution system. b. a high population growth. c. a low regard for political freedom. d. a higher level of consumption spending. e. a high budget deficit.