A household consists of only related family members like a father, mother, and children and not unrelated members like two students sharing a rented apartment
a. True
b. False
Indicate whether the statement is true or false
False
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The value of used goods ________ counted as part of GDP ________
A) are; as long as they are classified as consumption goods B) are; as long as they are classified as investment goods C) are not; because they were counted during the period when they were counted as new goods D) are not; because most fall in value and would cause a decrease in the value of GDP E) may be; as long as their value has risen
Which type of businesses earns the majority of profits in the United States?
A) corporations B) sole proprietorships C) partnerships D) none of these
Rent-seeking is:
A. illegal. B. a reason that the deadweight loss from a monopoly could be just a small fraction of the actual loss caused by monopoly power. C. the process for that profit-maximizing monopolies use to determine optimal product quality. D. another term for advertising.
Suppose that Canada decides to peg its dollar ($C, or the loonie) to the U.S. dollar at an exchange rate of $C1 = $US1. What will happen to Canadian interest rates as a result of the leftward shift of the U.S. IS curve?
A) They will rise. B) They will fall. C) They will not change. D) The IS curve will show an increase.