Unemployment compensation is
a. part of GDP because it represents income.
b. part of GDP because the recipients must have worked in the past to qualify.
c. not part of GDP because it is a transfer payment.
d. not part of GDP because the payments reduce business profits.
c
You might also like to view...
Suppose bad weather in Florida unexpectedly results in a much smaller citrus crop than had been projected. This would cause the ________ labor to pick citrus fruit in Florida to ________
A) supply of; decrease B) demand for; decrease C) supply of; increase D) demand for; increase
If the demand and supply curves for a commodity shift to the right by the same amount, then in comparison to the initial equilibrium, the new equilibrium will be characterized by:
A) a higher quantity and price. B) a lower quantity and a higher price. C) the same quantity and a lower price. D) a higher quantity and the same price.
Under which conditions might diseconomies of scale result?
A. hampered coordination brought about by bureaucracy B. decreasing costs of inputs C. increasing output prices D. usage of a large amount of indivisible inputs by the firm
Macroeconomics is best defined by which of the following statements?
A. Macroeconomics is the study of how the prices of individual goods are determined. B. Macroeconomics is the study of the behavior of the economy as a whole. C. Macroeconomics is the study of individual households. D. Macroeconomics is the study of how firms attempt to maximize profits.