Which of the following is not part of GDP?
A. purchases of new goods by households
B. firms buying new machines
C. the government buying new schools
D. businesses paying bribes to government officials
Ans: D. businesses paying bribes to government officials
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For most consumers, the process of gathering information can be considered
a. irrational b. unproductive c. a vocation d. nonmarket work e. costless
Raquel, who earns $900 a week, bought a television set and gained $70 consumers' surplus. What price did she pay for the good?
A) $40 B) $830 C) $160 D) $5 E) There is not enough information to answer the question.
Use the following table to answer the next question. The base year is 2007. YearHot DogsBaseballsBottles of Beer?PriceQuantityPriceQuantityPriceQuantity2005$2.50100$2.5050$1.0010020064.001005.001002.0015020075.001005.001002.0020020088.001508.002004.00200200910.0020010.002004.00250Compared to the base year, the rate of inflation for the year 2009 is
A. 80%. B. 10.5%. C. 22.5%. D. 100%.
Net exports is a negative number whenever
A. a nation's exports of goods and services exceed its imports. B. a nation's imports of goods and services exceed its exports. C. the nation's gross investment is on the decline. D. the nation's gross savings rate is on the decline.