Which of the following would not be considered a capital resource by economists?
A. A van used by a mother to transport the family around
B. An office computer used by an accountant
C. A crane used by a building contractor
D. A camera used by a professional photographer
Answer: A
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The benefit of a price floor to ________ is ________.
A. producers; the floor creates excess demand B. producers; the selling price of the product is above the equilibrium price C. consumers; the selling price of the product is below the equilibrium price D. consumers; the floor creates excess supply
An indication that Insurance companies anticipate adverse selection is
a. they do not require a deductible b. they do not classify clients into different risk types according to their claim history c. they classify clients into different risk types according to pre-existing conditions d. they do not require a co-payment
The budget of an economy is said to be in deficit when: a. federal outlays exceed revenues
b. federal revenues exceed outlays. c. anticipated inflation rate exceeds its actual rate. d. there is a loss of value of a country's currency with respect to one or more foreign reference currencies. e. anticipated interest rate exceeds its actual rate.
Which of the following is not a reason for publishing quarterly reports on the GDP?
a. it makes it easier to analyze movements in the GDP. b. the high and low quarters of business fluctuations are easier to spot. c. a full year’s statistics are not useful to economists. d. economic downswings and upswings can be recognized at an earlier date.