As of 2010, per capita GDP in the United States was approximately how many times the world average?
A. 5.
B. 7.
C. 3.
D. 9.
Answer: A
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Which of the following is included as investment in GDP?
i. cars produced during the year but unsold at the end of the year ii. new capital equipment produced and purchased during the year iii. purchases of a company's stocks and bonds A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii
If the marginal propensity to consume is 0.8 and if government spending (G) rises by 50 while investment (I) falls by 20, by how much will equilibrium income rise?
a. 12 b. 10 c. 30 d. 120 e. 150
In the basket of goods that is used to compute the consumer price index, which of the following categories of consumer spending is the largest?
a. education & communication b. recreation c. medical care d. All of the above categories are about equal in magnitude.
The questions of what type of public goods to produce, and how much to produce, are resolved:
a. in product markets. b. in resource markets. c. in private clubs. d. through public choices.