If GDP included the value of leisure time, the value of U.S. GDP would most likely increase.
Answer the following statement true (T) or false (F)
True
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What is one reason the federal government might "bail out" farmers in flood prone areas of the country?
A) Such flooding is not diversifiable and therefore only non-profit entities, such as the federal government, can cover the risks. B) Such flooding is diversifiable, but insurance company CEOs are more concerned with their stock-holder wealth than the well-being of farmers. C) Such flooding is diversifiable, but the market for such insurance policies cannot clear without the assistance of the International Community. D) Such flooding is known to happen on a regular basis and therefore there is no "risk" to be insured against.
The fact that consumers often react more to changes in the posted price of a good as compared to changes in the sales tax that is not posted is an example of
A) salience. B) salinity. C) stupidity. D) rational ignorance.
The official name of the Social Security program is _____
a. Old Age, Survivors, Disability, and Health Insurance b. Old Age, Dependents, Survivors, and Disability Insurance c. Old Age, Dependents, Disability, and Health Insurance d. Seniors, Survivors, Dependents, and Health Insurance
In the aggregate expenditures model, an increase in government spending causes a(n):
a. upward shift in the aggregate expenditures curve. b. downward shift in the aggregate expenditures curve. c. shift in the 45-degree line. d. rightward movement along the aggregate expenditures curve. e. leftward movement along the aggregate expenditures curve.