You get bit by your neighbor's dog, and incur $200 in emergency medical expenses. What happens to GDP?
A) It increases by $200.
B) It decreases by $200.
C) It remains unchanged.
D) It depends upon whether you or the dog owner pays the medical bill.
A
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As a result of firms leaving the perfectly competitive frozen yogurt market in the early 2000s, the market
A) supply curve shifted leftward. B) supply curve did not change. C) demand curve shifted rightward. D) supply curve shifted rightward. E) demand curve shifted leftward.
As of mid-2009, the unemployment rate for blacks is approximately 1.7 times the rate for
a. Hispanics b. white teenagers c. women d. black teenagers e. whites
The recent growth records of Japan and Hong Kong during the last fifty years indicate that a nation can grow rapidly without
a. securely defined property rights. b. adopting modern technology. c. significant capital formation. d. abundant domestic natural resources.
Rational people make decisions "at the margin" by comparing
a. average costs and benefits. b. total costs and benefits. c. additional costs and benefits. d. opportunity costs and benefits.