The goods and services included in GDP are allocated to which of the following four major sectors?
a. consumption, investment, government purchases, and transfer payments.
b. consumption, taxes, saving, and transfer payments.
c. investment, government purchases, net exports, and military goods.
d. consumption, investment, government purchases, and net exports.
d. consumption, investment, government purchases, and net exports.
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When resources are commonly owned, there are incentives in place to ensure that the resources are used efficiently
a. True b. False Indicate whether the statement is true or false
If an import tariff is reduced, the domestic quantity demanded is ____ and the quantity supplied domestically is ____, ____ the quantity of goods imported. a. greater; lower; reducing
b. lower; greater, reducing. c. greater; lower; increasing. d. lower; greater; increasing.
In the dollar:pound foreign exchange market, is it always true that when the supply of dollars rises the demand for pounds rises?
a. Yes. This is always true. b. No. It is not always true. c. Like most things in life, it depends on a variety of other factors.
Which statement is true?
A. There is no evidence whatsoever to support the contention that women, blacks, Hispanics, and other minorities are victims of employment discrimination. B. The relatively lower wages earned by women and minorities can be explained entirely by employment discrimination. C. The poverty of women, blacks, and Hispanics can be explained almost entirely by their low earnings. D. None of these statements are true.