Which of the following is included in GDP?
a. the value of illegally produced goods
b. the value of housework by a stay-at-home dad
c. the value of volunteer work done at a local homeless shelter
d. the cost of government-provided social services
d
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An increase the expected future price of a good
A) increases its demand. B) decreases its demand. C) increases its supply. D) has no effect on either its demand or its supply.
As the recession persisted into 2009, the unemployment rate in the United States rose to ________, the highest rate since the recession of 2001-2002 and the second highest since the Great Depression
A) 5.5 percent B) 9.3 percent C) 17.6 percent D) 25.1 percent
Which of the following people are liquidity providers?
A. Used car salesman B. Stock broker C. Real estate agent D. All of these are considered liquidity providers.
The basic difference between macroeconomics and microeconomics is that: a. microeconomics looks at aggregate markets while macroeconomics is concerned with individual markets. b. macroeconomics is concerned with policy decisions while microeconomics applies only to theory
c. microeconomics is concerned with individual markets while macroeconomics is concerned with aggregate markets. d. macroeconomics is concerned with positive economics while microeconomics is concerned with normative economics.