Which of the following is included in measuring GDP?
A. the transfer of secondhand goods
B. the value added at each stage of production of a final product
C. the buying and selling of securities
D. household services rendered by homemakers
Answer: B
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Ms. Krupsky has shorthand and typing skills and still finds herself unemployed. In today's economy, Ms. Krupsky is an example of what type of unemployment?
A) cyclical unemployment B) frictional unemployment C) structural unemployment D) None of the above answers is correct.
Figure 7-7
In Figure 7-7 at 100 units, AFC equals
a.
10.
b.
100.
c.
180.
d.
1,000.
In general, which of the following is NOT a characteristic of a fixed exchange rate regime as defined by the text?
a. Capital is mobile. b. Exchange rates are determined by the market in the short run. c. Arbitrage is free to operate. d. Government takes an active role in foreign currency market intervention.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point E to Point A, the opportunity cost of hybrid cars, measured in terms of motorcycles
A. increases. B. initially increases, then decreases. C. decreases. D. remains constant.