Transfer payments ___ counted in GDP. Also, they ___ a payment for a good or service the government received.
A. are, are
B. are, are not
C. are not, are
D. are not, are not
Ans: D. are not, are not
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Consumer’s surplus is a measure of how much
A. less than his income a consumer spends on goods. B. more utility a consumer receives from his purchases than he has to pay for them. C. a consumer’s marginal utility differs from his total utility. D. a change in price induces a consumer to substitute other goods.
How does the natural unemployment rate change and what factors might make it change?
What will be an ideal response?
In the coordination failure model, the "good" equilibrium is characterized by a
A) higher real interest rate and a higher price level than the "bad" equilibrium. B) higher real interest rate and a lower price level than the "bad" equilibrium. C) lower real interest rate and a higher price level than the "bad" equilibrium. D) lower real interest rate and a lower price level than the "bad" equilibrium.
According to the text, The American Recovery and Reinvestment Act of 2009:
A. was successful. B. was unsuccessful. C. remains hotly debated whether it was successful or not. D. is known as the most effective legislation ever passed in U.S. history.