GDP does not include which of the following activities?
A. Families eating out at restaurants.
B. Households spending to enhance security of their neighborhoods.
C. Businesses installing anti-pollution equipment.
D. Couples remodeling their own homes (with their own labor).
Answer: D
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Which period was not a recession in the United States?
A) 1974-1975 B) 1990-1991 C) 1984-1985 D) 2001
What is the primary prediction of the median voter model? List the two key assumptions of the median voter model regarding the preferences of voters
What will be an ideal response?
Suppose that the price of eggs increases from 75 cents to $1.00 per dozen and as a result a typical farmer experiences a decrease in egg sales from 300 to 200 dozen per week
Using the method of average values, the absolute price elasticity of demand is A) 1.4. B) 0.8. C) 3.0. D) 1.75.
Gross domestic product measures the:
a. wholesale value of all goods and services produced by U.S. owned corporations. b. market value of all final goods and services produced during a year by resources located in the United States. c. initial production value of foreign and Untied States owned corporations who pay taxes in the United States. d. aggregate consumer purchases of goods and services sold in a year in the United States.