The system that measures the economy's overall performance is formally known as:
A. national income accounting.
B. business cycle measurement.
C. GDP assessment.
D. final output and income statistics.
A. national income accounting.
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If an environmental group wanted to prevent the habitat destruction of the Wyoming pocket gopher, the Coase theorem would direct the group to
A) try to get laws enacted to protect the species. B) bargain in order to obtain the property rights of the gopher habitat. C) physically block any efforts to destroy the habitat. D) protest the destruction while gaining media attention for their cause.
In 2002, the largest marital status category of white single parents was "never married."
Indicate whether the statement is true or false
Refer to the above table. The marginal factor cost of labor is $200. To get the firm to hire 8 workers, the
A) firm must be able to reduce wages below the marginal factor cost. B) price of the good must be $8. C) eighth worker must be at least as productive as the seventh worker was. D) wage rate must be a fraction of the marginal factor cost of labor.
Most commercial banks belong to the Federal Reserve System
a. True b. False Indicate whether the statement is true or false