Which of the following would be included in the government consumption and investment component of GDP?
a. the export of 100 fighter jets to Japan
b. construction costs of a new public school building
c. food stamps used by the Smith family
d. a $1,000 check issued by the federal government as part of the Pell Grant program to help college students pay for school
B
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Involuntary part-time workers are:
A. discouraged workers. B. counted as unemployed. C. considered out of the labor force. D. counted as employed.
In the United States, the distribution of income after the income tax is ____ the distribution of income before the income tax.
A. slightly less equal than B. about as equal as C. slightly more equal than D. a great deal more equal than
Scatterbrain Samantha often forgets to lock her house. This has caused the probability of a burglary to be 30%. If her house gets broken into, she faces a property loss of $10,000, otherwise she gets to keep her $100,000 . If Samantha is offered full coverage for her house at $1,500, what is her expected wealth with the insurance policy?
a. $80,000 b. $87,000 c. $97,000 d. $98,500
Which of the following is true?
a. Inflation and unemployment rates can both increase in the short run in response to positive supply shocks. b. Inflation and unemployment rates can both decrease in the short run in response to reduced aggregate demand. c. Inflation and unemployment rates can both decrease in the short run in response to positive supply shocks. d. The short-run Phillips curve relationship appears to be relatively stable over time.