Transfer payments:
A. are payments from government accounts to individuals for programs that do not involve a purchase of goods or services.
B. involve programs such as Social Security and welfare.
C. do not show up in GDP.
D. All of these are true.
B. involve programs such as Social Security and welfare.
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Leontief showed that U.S. exports were capital intensive relative to U.S. imports
Indicate whether the statement is true or false
If the stock price of a company is higher than the discounted value of its future earnings,
a. Buy the stock only if the company has a sustained competitive advantage b. Don't buy the stock, even if the company has a sustained competitive advantage c. Always buy the stock d. None of the above
Which of the following supply shocks will shift the long-run aggregate supply curve outward?
a. An increase in business taxes b. An increase in gasoline taxes c. An increase in the cost of raw materials d. An increase in the amount and cost of government regulation e. An increase in agricultural output
All of the following conditions, except one, will necessarily be satisfied when a perfectly competitive firm is in short-run equilibrium. Which condition is the exception?
a. marginal revenue equals average total cost b. marginal cost crosses marginal revenue from below c. marginal revenue equals price d. price equals marginal revenue e. profit is maximized or loss is minimized