When the Art Institute of Chicago purchases a painting by Mary Cassatt that she produced in Paris in 1885, this would not be included in the U.S. GDP for 2015
a. True
b. False
Indicate whether the statement is true or false
True
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Why are suburban stores more likely than downtown stores to provide free parking for their customers?
A) Fewer people drive their cars to downtown stores than to suburban stores. B) Suburban people are more addicted to the automobile than are inner-city residents. C) The cost of using land is higher in the downtown area. D) There is not much land available in the downtown area.
Chinese exports of toys and footwear can be explained by factor endowments, while Chinese exports of telecommunications equipment and computers and accessories can be explained by product-cycle analysis
Indicate whether the statement is true or false
Use the above figure. Which graph depicts a normal good?
A) A B) B C) C D) D
Externalities can be difficult to detect in open economies.
A. True B. False C. Uncertain