Residential investment includes spending by firms on office buildings
Indicate whether the statement is true or false
FALSE
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Give some arguments for and against a balanced budget requirement
A dominant strategy is a strategy that is best for a player in a game regardless of the strategies chosen by the other players
a. True b. False Indicate whether the statement is true or false
Suppose that GDP was $200 billion in year 1 and that all other components of expenditures remained the same in year 2, except that business inventories increased by $10 billion. GDP in year 2 is ________.
A. $200 billion B. $180 billion C. $190 billion D. $210 billion
Which of the following statements is TRUE of external costs?
A. There are no good ways to correct for external costs. B. When external costs exist, the price of the good will be deceptively low leading to an overallocation of resources. C. External costs should only be corrected for if the correction will not increase the market price. D. External costs should not be corrected since people will bear the costs whether they are corrected or not.