Refer to Table 9-14. The real average hourly earnings for 1965 in 1982-1984 dollars equal
A) $1.28.
B) $6.49.
C) $8.28.
D) $15.45.
C
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Double counting (counting the same thing twice) in GDP accounting is avoided by not including
A) net exports. B) intermediate goods. C) illegal activities. D) depreciation.
If a pair-wise majority vote was held, the voters' preferences are shown in the table, and Bob is setting the agenda for votes, which pair will he put up for vote first?
A. Public zoo and public parks
B. Public transportation and public zoo
C. Public parks and transportation
D. It will not matter, as it will not affect the outcome of the voting.
Modern statistical methods have created a new branch of economics called
a. microeconomics b. macroeconomics c. econometrics d. abstract economics e. positive economics
Beverly owns a rabbit and receives a $600 benefit from owning it. Sometimes Beverly's rabbit makes its way onto the lawn of her neighbor, Charles, and eats the vegetables in Charles' garden. This intrusion by the rabbit costs Charles $400 . Can both individuals become better off if Charles pays Beverly some amount of money to get rid of the rabbit? Explain