All are examples of government purchases that would be included in GDP except:
A. pencils for the employees of the FBI to use.
B. the salaries of those in the military working in California.
C. salaries paid by government to foreign contractors in Iraq.
D. replacement calculators for the Congressional Budget Office.
Answer: C
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This table shows price and quantity produced for a single firm in a perfectly competitive market.PriceQuantity$1023$1024$1025$1026Given the information in the table shown, what is the market price?
A. $2 B. $20 C. $260 D. $10
When tax code changes increase saving incentives, the interest rate will _____ and investment will _____
Fill in the blank(s) with correct word
If gasoline prices rise by 20% and quantity demanded falls by 5%, then the price elasticity of demand for gasoline is:
A) inelastic. B) elastic. C) unit elastic. D) perfectly inelastic.
Because cartel firms produce a quantity that ________ maximize their own firm's profits, there is an incentive to ________.
A) does; produce more than the agreed upon amount B) does not; produce less than the agreed upon amount C) does; act in self-interest D) does not; act in self-interest