When calculating the compensation of employees part of GDP
A) Social Security contributions must be included.
B) fringe benefits are not included.
C) taxes withheld on earnings are not included.
D) the value of vacation time must be included.
A
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There is no good basis for dividing federal and state regulatory jurisdictions
Indicate whether the statement is true or false
____________ were the most common form of specie used in the colonies
a. Coins issued by the English mint b. Coins issued by the Spanish mint c. Coins issued by New England's mint d. Coins issued by privately-owned colonial mints
Which of the following is the most efficient way to reduce pollution emissions?
a. emission standards that cap allowable pollution b. government pollution charges or taxes c. legislated regulations limiting the quantity of emissions allowed by each firm d. enforcement of property rights, when those rights are well-defined and transaction costs are low
Refer to the graph shown, which depicts a perfectly competitive firm. If the price of the product is $3:
A. the firm may continue to operate in the short run but will exit the industry in the long run. B. the industry will be in long-run equilibrium. C. new firms will enter the industry. D. the firm will just cover its opportunity cost of production.