The people firms hire to attempt to convince state legislators and members of Congress to pass laws that are favorable to the economic interests of the firms are called
A) government bureaucrats. B) lobbyists.
C) legislative assistants. D) economic advisors.
B
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In new growth theory, the source of economic growth is ______.
A. more leisure B. new and better jobs C. the persistent want for a higher standard of living D. an ever increasing growth rate of capital per hour of labor
The unreported or illegal production of goods and services in the economy that is not counted in GDP is termed:
a. money laundering. b. the underground economy. c. disposable personal income. d. indirect national income. e. unreported capital consumption.
Bill is willing to cut lawns for a minimum of $200 a week. He is, however, paid $250 for the same service by a lawn maintenance company. This is an example of
a. consumer surplus. b. employment discrimination. c. producer surplus. d. the derivation of accounting profit.
The purchase of a new Boeing fighter jet by Israel is classified in the U.S. GDP accounts as
A) import expenditure.
B) export expenditure.
C) consumption expenditure.
D) investment expenditure.
E) government expenditure.