The GDP includes government consumption such as
A. Social Security benefits.
B. Medicare and Medicaid benefits.
C. office products.
D. transfer payments
Answer: C
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Possession of information by one party in a financial transaction but not by the other party is
A) symmetric information. B) asymmetric information. C) informational hazard. D) financial intermediation.
When two U.S. firms announce a merger, and at least one of them meets the legal level of minimum sales, they must notify the:
a. Federal Trade Commission. b. Consumer Financial Protection Bureau. c. Better Business Bureau. d. Department of Commerce.
When the Fed buys bonds in the open market, we can expect the
A) exchange rate to rise and interest rates to fall. B) exchange rate and interest rates to rise. C) exchange rate to fall and interest rates to rise. D) exchange rate and interest rates to fall.
Exhibit 21-4 Coffee and tea output (pounds per hour) CountryCoffee Tea Brazil10 5 China 8 8 As shown in Exhibit 21-4, the opportunity cost to Brazil of producing one pound of coffee is:
A. 1 pound of tea. B. 5 pounds of tea. C. 1/2 pound of tea. D. 10 pounds of tea.