Which of the following would not be considered a "leisure" activity by economists?
A. Cleaning the bathroom floor
B. Making a work call.
C. Making dinner
D. Going skiing
Answer: B
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Which of the following is NOT an expected consequence of balancing the federal government's budget?
A) increased private investment B) increased borrowing from foreigners C) reduced interest payment to foreigners D) B and C.
Nominal gross domestic product is based on the existing prices at which final goods are actually sold
a. True b. False Indicate whether the statement is true or false
The tit-for-tat strategy:
A. makes cooperation unlikely. B. is not possible in single-round games. C. is not effective in repeated games. D. All of these statements are true.
Money is:
A. controlled by the supply and demand of goods and services on which our money is spent. B. represented only by the amount of dollars and coins in our economy. C. the set of all assets that are regularly used to directly purchase goods and services. D. anything that we use to buy goods and services as long as it is not a good itself.