Other things equal, a serious recession in the economies of U.S. trading partners will:
A. have no perceptible impact on the U.S. economy.
B. cause inflation in the U.S. economy.
C. depress real output and employment in the U.S. economy.
D. stimulate real output and employment in the U.S. economy.
C. depress real output and employment in the U.S. economy.
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What is the relationship between market failure and government failure?
What will be an ideal response?
The value of the housing services provided by the economy's owner-occupied houses is
a. included in GDP, and the estimated rental values of the houses are used to place a value on these housing services. b. included in GDP, and the actual mortgage payments made on the houses are used to estimate the value of these rental services. c. excluded from GDP since these services are not sold in any market. d. excluded from GDP since the value of these housing services cannot be estimated with any degree of precision.
Which one of the following statements is NOT an accurate description of? corporations?
A. The stock of a private corporation is not made available for purchase by the public. B. Corporations can change from private to public ownership but not from public to private ownership. C. Public corporations are said to be publicly held or publicly traded. D. Shareholders of a corporation are investors who can purchase shares of stock. E. The stock of a public corporation is sold to anyone who has the means to buy it.
What are network effects? How do they contribute to economies of scale?
What will be an ideal response?