GDP is supposed to measure
A) the volume of production within a country's borders.
B) the volume of services generated within a country's borders.
C) the volume of production of a country's output.
D) GNP plus depreciation.
E) net unilateral transfers from foreigners.
A
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With the economy booming, the government starts to worry about the increasing rate of inflation, and decides to cut its spending on highway maintenance and defer it to sometime in the future. This is an example of:
A. an automatic stabilizer. B. discretionary fiscal policy. C. expansionary fiscal policy. D. None of these is true.
Grade inflation at colleges and universities is _________ to general price inflation in that ______________
A) similar; both can be deceptive. B) not comparable; it is impossible for grades to be inflated. C) similar; grades tend to go up when prices are rising. D) not comparable; grades tend to fall while prices tend to rise.
Starting at full employment, a business cycle can be described by the following sequence: ... equilibrium, ... equilibrium, ... equilibrium
What will be an ideal response?
If in the market for used bikes where only sellers can distinguish between good quality and bad quality used bikes, then in that market there exists:
A. perfect information. B. asymmetric information. C. public information. D. duopoly information.