The GDP per capita of a country is calculated by dividing the GDP of the country by its population
a. True
b. False
Indicate whether the statement is true or false
True
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To an economist, the term "needs"
A) means the purchase of necessary goods. B) is objectively undefinable. C) identifies the purchases of basic goods and services. D) refers to the purchase of goods by the poor.
Health problems prevent people from working harder, which can lower a country's total income. This indicates that in effect, health problems
A) are a primary cause of price decreases. B) increase the incentive to work. C) shift a country's production possibilities frontier inward. D) decrease consumer surplus.
Answer the question based on the information given in the table below that shows the items and figures taken from a consolidated balance sheet of the twelve Federal Reserve Banks. All figures are in billions of dollars.
In the balance sheet above for the Federal Reserve, there would be assets of:
A. $246 billion
B. $313 billion
C. $320 billion
D. $387 billion
When Airbnb customers in Malibu start paying hotel taxes, this will have the potential to ________ the equilibrium price in this market and, therefore, ________ efficiency
A) raise; increase B) raise; decrease C) lower; decrease D) lower; increase