Those economists who attempt to explain why wages and prices do not freely adjust would most likely be
A) real business cycle theorists.
B) new classical economists.
C) new Keynesian economists.
D) new growth theorists.
E) none of the above
C
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The impact of an increase in the gasoline tax on SUV sales is
A) a macroeconomics topic because it deals with taxes. B) a microeconomics topic because it deals with one industry. C) not an economic issue, but rather a political issue. D) insignificant.
International exchange in which countries are either exporters or importers of a good, but do not do both, is called _______ trade.
A) one-way B) two-way C) multilateral D) free
Recall the Application about intellectual property in GDP accounts to answer the following question(s).According to the Application, the government agency tasked with the production of the GDP and other national accounts is:
A. the Bureau of Economic Analysis. B. the Central Intelligence Agency. C. the Bureau of Labor Statistics. D. the White House.
Which of the following is NOT a component of gross domestic product?
A. net exports B. government purchases C. purchases by consumers of used goods D. purchases by consumers of finished goods