To what extent are homemaking and child-rearing accounted for in the government's GDP accounts?
A) Not at all
B) Only to the extent that they are provided for pay
C) Only to the extent that taxes are paid on them
D) All homemaking and child-rearing are accounted for
B
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If a 5 percent increase in the price of good A leads to a 4 percent decrease in the demand for good B, then ________
A) the goods are substitutes B) only one good is a normal good C) the goods are complements D) both goods are normal goods
The Federal Reserve banks are owned by: a. the citizens of each Federal Reserve district. b. the American people as a whole
c. the Federal Government. d. commercial banks.
The government sometimes creates an excess demand for a product by setting a maximum price at which the product may be sold to consumers. This is sometimes called a:
A. price ceiling. B. price floor. C. tax. D. subsidy.
Jacob makes excellent tamales and Amanda is very good at mowing lawns. Amanda agrees to mow Jacob's lawn, if he makes her a dozen tamales. This is an example of
A. fiat money. B. legal tender. C. barter. D. commodity money.