Purchasing power parity prices are used to construct GDP data that
A) do not omit the underground economy.
B) can be used to make more valid comparisons between one country and another.
C) is a proper measure of economic welfare.
D) adjust for differences in population.
B
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The default risk premium is measured
A) by an index published monthly by the Securities and Exchange Commission. B) by an index published monthly by The Wall Street Journal. C) as the difference between the yield on a non-Treasury security and the yield on a U.S. Treasury security of the same maturity. D) as the difference between the nominal yield on the security and the real after-tax yield on the security.
As the size of government increases as a share of the economy,
a. the burden of deadweight losses of taxation generally diminishes. b. the rate of return derived from projects undertaken by the government will tend to increase. c. the government generally becomes more heavily involved in unproductive and even counterproductive activities. d. the activities of government are generally limited to protective functions such as public safety , national defense, and provision of a limited set of public goods.
What is the price of a TV in an open economy without a quota?
A. $75 B. $125 C. $100 D. $150
The shaded area in Figure 24.1 represents
A. Total cost. B. Total loss. C. Total revenue. D. Total profit.