GDP includes:
a. the negative attributes from erosion and deforested landscape.
b. all quality improvements resulting from higher quality goods replacing inferior goods.
c. the cleaning-up expenses associated with pollution.
d. the value of leisure time.
e. the illegal activities related to the underground economy.
c
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A strategy called "limit pricing" sets the price
A) below the competitive level. B) at the monopoly level. C) at the lowest level that inflicts a loss on the entrant. D) at the highest level that inflicts a loss on the entrant.
A distributed lag regression
A) is also called AR(p). B) can also be used with cross-sectional data. C) gives estimates of dynamic causal effects. D) is sometimes referred to as ADL.
If the Fed wants to decrease the money supply, it can:
A. Increase the money multiplier. B. Decrease the discount rate. C. Sell government bonds. D. Decrease the minimum reserve ratio.
Proponents of income redistribution argue that redistribution
A. will not take place absent government intervention as the market for charity, a private good, is imperfect. B. would be agreed to by all members of society if they were risk-loving and contracting from the "original position." C. increases the welfare of all members of society. D. helps those who, through no fault of their own, are unable to earn an adequate income.