Which of the following would increase GDP?
A. People engaging in more "do-it-yourself" projects
B. Additional leisure time
C. More imports
D. Government removing more litter from highway right of ways
D. Government removing more litter from highway right of ways
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In response to a shortage the market price of a good will rise; as the price rises, the demand will decrease and supply will increase until equilibrium is reached
Indicate whether the statement is true or false
Suppose Ben owns a small company that makes kites. The market for kites is perfectly competitive, and kites sell for $25 each. Ben's total production costs vary depending on the number of kites he makes each day, as shown in the accompanying table.Number of kites Per DayTotal Cost Per Day ($)0100111021263148417252006235 Should Ben shut down?
A. Yes, because he cannot earn enough revenue to cover his variable cost. B. No, because his economic profit is positive. C. Yes, because his economic profit is negative. D. No, because he can earn enough revenue to cover his variable cost.
The M1 measure of money consists of the sum of:
A. currency, checking deposits, and savings deposits. B. checking deposits and travelers' checks. C. currency and travelers' checks. D. currency, checking deposits, and travelers' checks.
Net exports
A. are the smallest component of GDP. B. equal exports minus imports. C. have been negative in the United States since the mid-1970s. D. All of the choices are true of net exports.