Which of the following transactions would be included in GDP for 2015?
a. In February 2015, Amanda sells a 2009 Hyundai to Isabella.
b. In March 2015, Amanda buys a ticket to visit a zoo in Florida. She visits the zoo in February 2016.
c. In November 2015, Isabella eats onions that she harvested from her backyard garden in October 2015.
d. All of the above are correct.
b
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The schedules in the table give the marginal social benefit and marginal social cost of a DVD. If there are no external benefits or external costs, the efficient number of DVDs to produce is ________ a week
A) 1 B) 3 C) 5 D) any number less than 3
Since the Red Cross supplies 95 percent of the blood in the United States, it can be considered a monopolist. Assume that it, in fact, operates like a monopolist. The Red Cross currently charges hospitals and other users $21 for a pint of blood. In order to increase the supply of blood, the government offers the Red Cross a $10 million, lump-sum subsidy. How much more blood supply will the subsidy generate?
A. About 500,000 pints B. Somewhere between 100,000 and 500,000, depending on demand elasticity C. Somewhere between 100,000 and 500,000, depending on the elasticity of supply D. Zero
Which of the following is an example of unplanned investment spending?
a. A fall in the sales of Brax Inc.'s leather jackets that leads to an increase in its stock in the warehouses b. An increase in the demand for Martha's blueberry cheesecakes that increases her demand for cheese c. A fall in the demand for Oliver's muffins that forces him to give away his muffins for free d. A seafood restaurant that keeps a few steaks in its stock every week
If Georgia experiences a late frost that damages the peach crop, we should expect the
a. supply curve for peaches to shift to the right and the price of peaches to fall. b. supply curve for peaches to shift to the left and the price of peaches to rise. c. demand curve for peaches to shift to the left and the price of peaches to fall. d. demand curve for peaches to shift to the right and the price of peaches to rise.