Using the above table, the Net Domestic Product (NDP) for the country is
A. 338.
B. 84.
C. 328.
D. 662.
Answer: C
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The command of World War II (1941–45)
(a) was more structured than that of World War I (1914–18) (WWI). (b) experienced the same unconstitutionality problems experienced during WWI. (c) was distinct from WWI in most ways. (d) did not involve rationing of goods and services, given the high unemployment of the period.
A consumer buys food (F) and shelter (S). If the consumer's income rises and there is no change in the prices of F or S, the marginal rate of transformation of F for S will
A) increase. B) decrease. C) stay the same. D) change, but there is not enough information to know how.
The presence of the automatic stabilizers means an increase in the budget deficit will be automatically experienced during an economic expansion whereas a budget surplus will be automatically experienced during a recession
a. True b. False Indicate whether the statement is true or false
If firms have to account for external costs of production, then they will ________ compared with what they would do if they did not have to account for the external costs.
A. overproduce and underprice B. underproduce and overprice C. underproduce and underprice D. overproduce and overprice