Which of the following government agencies estimates and compiles the U.S. GDP accounts?
A. The American Economic Association
B. The Federal Reserve System
C. The Bureau of Economic Analysis
D. The Internal Revenue Service
C. The Bureau of Economic Analysis
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Which of the following should help reduce the adverse selection problem?
A) the employer mandate provision of the Affordable Care Act B) the individual mandate provision of the Affordable Care Act C) keeping high-risk and low-risk individuals in the same health insurance pool D) all of the above
Consumer surplus is accurately measured along (uncompensated) demand curves when tastes are quasilinear.
Answer the following statement true (T) or false (F)
The natural rate of unemployment
a. is an artificially low rate that cannot be maintained. b. is a constant rate that is unaffected by changes in public policy. c. is the rate of unemployment present when the economy is operating at full employment. d. is equal to the number of persons unemployed divided by the number in the labor force.
Refer to Figure 8.1 above. The total fixed costs for Cyndy's Floral Arrangements are $1,000. If Cyndy's Floral Arrangements produces 200 silk flower arrangements, the average fixed costs are A) $.20. B) $5. C) $20. D) $200.