All of the following are included in the calculation of gross domestic income (GDI) EXCEPT
A. wages.
B. indirect business taxes.
C. profits.
D. consumer expenditures.
Answer: D
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The demand curve faced by a pure monopolist
A) is the same as its marginal revenue curve. B) is perfectly inelastic. C) lies below the marginal revenue curve. D) is the market demand curve.
We should expect to see home construction activity decrease when interest rates increase
a. True b. False Indicate whether the statement is true or false
The major sources of economic growth are
a. gains from trade, entrepreneurial discovery, and investment. b. high taxes, an expansion in the size of government, and restrictions on investments by foreigners. c. rapid expansion in the supply of money, trade restrictions, and government licensing of business activities. d. free and open elections and politicians who are willing to place the general welfare of the populace above their political ambitions.
People achieve ____ ____ when they are free to ___ with people in other countries
Fill in the blank(s) with the appropriate word(s).