How does the U.S. economy rank in size?
A. First in economic output
B. Second in economic output
C. Third in economic output
D. Fourth in economic output
E. Fifth in economic output
Answer: A
You might also like to view...
The Lorenz curve is criticized for all of the following EXCEPT
A) that it excludes transfers-in-kind income. B) that it does not account for the size differences of households. C) that it does not account for age differences of households. D) that it does not account for the impact of trade on the standard of living.
College students often spend summers in internships that pay little or no income because internships provide benefits in the form of higher future incomes
a. True b. False
Grocery store coupons, mail-in rebates, senior discounts, and in-state versus out-of-state tuition fees are all examples of:
a. government intervention. b. price neutrality. c. arbitrage pricing. d. price discrimination. e. illegal business practice.
In perfectly competitive markets that exhibit allocative efficiency, production represents which of the following?
a. Societal preferences b. Average marginal returns c. Optimal production methods d. Economic profitability