Compared with other countries in the OECD, U.S. government spending relative to GDP is
A. among the highest.
B. slightly below average.
C. about average.
D. among the lowest.
Answer: D
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A predatory pricing strategy will have the greatest chance of success when the predatory price is set below the cost of the firm's competitors, new rivals are unlikely to enter after the strategy ends, and profits can be recouped in a relatively
short period of time. Indicate whether the statement is true or false
To earn a higher return on the assets in the Social Security trust fund, a suggestion has been made to allow the trust fund to
A) buy government bonds. B) sell limited partnerships. C) sell insurance. D) invest in the stock market.
A young chef is considering opening his own sushi bar. To do so, he would have to quit his current job, which pays $20,000 a year, and take over a store building that he owns and currently rents to his brother for $6,000 a year. His expenses at the sushi bar would be $50,000 . for food and $2,000 for gas and electricity. What are his implicit costs?
a. $26,000. b. $66,000. c. $78,000. d. $52,000. e. $72,000.
Which of the following is true?
a. GDP is a "flow" concept. b. The purchase prices of both intermediate goods and final goods are included in GDP. c. GDP measures economic welfare. d. GDP is a measure of changes in the general level of prices.