Which of the following groups generally has the lowest unemployment rate?
A. High school graduates with no further education.
B. College dropouts.
C. High school dropouts.
D. College graduates.
Answer: D
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Which of the following statements is positive?
A. Large budget surpluses should be avoided. B. A tax cut that benefits high-income households is acceptable. C. Higher taxes are needed to support education. D. Tax increases tend to discourage saving.
The GDP price index equals ________.
A. gross private domestic investment less the consumption of fixed capital B. nominal GDP divided by real GDP C. gross national product less net foreign factor income earned in the United States D. real GDP divided by nominal GDP
For a good to be nonrival, then
A) one person's consumption of that good does not decrease another person's consumption of that good. B) a person cannot be prevented from consuming that good even if he or she did not pay for it. C) a person is willing to pay any price to ensure that the product is available. D) a person is not willing to pay for the good because even without paying for it, the person can consume the good anyway.
Gross Domestic Product measures the market value of all intermediate goods and services produced in the world during a given period, usually a year
Indicate whether the statement is true or false