Refer to the scenario above. What is the number of unemployed workers in the economy?
A) 1 million B) 2 million C) 3 million D) 4 million
A
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Which of the following is not part of U.S. GDP?
a. the value of a Toyota imported from Japan b. the value of a Ford Mustang produced in the United States and sold in Canada c. the salary of the governor of Minnesota d. the value of a Rhode Island attorney's services
Technically, the accelerator relates the level of an economy's investment to the change in its
a. level of national income b. economic growth rate c. ratio of saving to personal income d. ratio of investment to personal income e. rate of depreciation of capital stock
If inventory levels are decreasing, then we should expect business firms to
a. decrease prices. b. decrease output. c. lay off workers. d. increase output.
One way to solve the free-rider problem is:
A. tax everyone an equal amount for the good. B. have the government provide the good at a certain cost. C. make the good or service more excludable. D. tax those who truly value the good.