Which of the following components of the current account are included in GDP?
A) net exports
B) net foreign investment income
C) net transfer payments sent to foreigners
D) all of the above
A
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Governments are often forced to bail out large banks to prevent the entire economy from being affected adversely. This provision often encourages banks to invest in risky assets. This is an example of ________
A) moral hazard B) a positive externality C) adverse selection D) anchoring
Which of the following is not a characteristic of a public good?
a. It requires resources to produce. b. It is not diminished or depreciated as additional people consume the good. c. Its benefits cannot be withheld from anyone. d. It is a free good. e. It generates value (benefits) to more than one person.
Shaniqua sells life insurance and is considering buying a $60,000 Lexus for business purposes (thus, the expense reduces her taxable income). If Shaniqua is in the 40 percent marginal tax bracket, how much after-tax income will she have to give up in order to enjoy the Lexus?
a. $24,000 b. $36,000 c. $30,000 d. $84,000
An advance in technology in the production of good X causes
A) a rightward shift in the supply curve for good X. B) a leftward shift in the supply curve for good X. C) the supply curve for good X to change from upward sloping to vertical. D) the supply curve for good X to change from vertical to upward sloping.