Which of the following is included in GDP?
A. Welfare payments received by some households
B. Fees received by stockbrokers
C. Cash gifts from relatives during the holidays
D. Payments received from selling stocks in one's portfolio
B. Fees received by stockbrokers
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The level of long-run aggregate supply is affected by all of the following except
A) changes in the capital stock. B) changes in the number of workers. C) changes in the technology. D) changes in the price level.
A bulldozer used by a construction firm is known as a
a. capital good. b. consumer good. c. free good. d. public good.
A firm will find it profitable to hire workers up to the point at which their:
A. marginal resource cost equals their wage rate. B. wage rate equals product price. C. MP is equal to their MRP. D. marginal resource cost is equal to their MRP.
About how much of the tax is paid by consumers in the form of higher prices?
A. 2 cents
B. 8 cents
C. 12 cents
D. 18 cents