Net domestic product (NDP) is
A. Gross Domestic Product (GDP) minus private investment.
B. Gross Domestic Product (GDP) minus government transfers.
C. Gross Domestic Product (GDP) minus the foreign sector.
D. Gross Domestic Product (GDP) minus depreciation.
Answer: D
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In the above figure, Brendan originally consumes at point A. If his income falls and compact discs are a normal good but haircuts are an inferior good then he will begin consuming at a point such as
A) B. B) E. C) F. D) G.
When positive externalities are involved, the market is said to
A. fail, because it underproduces the good connected with the positive externality. B. fail, because it overproduces the good connected with the positive externality. C. succeed, because it produces the socially optimal quantity of the good connected with the positive externality. D. be "in optimum," because the equilibrium fully adjusts for the positive externality.
Which of the following is a hybrid of a checking and savings account?
A) CD B) negotiable CD C) passbook accounts D) money market deposit account
If TruLite's factory workers receive an hourly wage, described by the equation; Compensation = $5.00 + .10Q, where Q is the number of light switches installed per hour, then:
A. the employee can remain completely risk-averse. B. there are no compensating differentials. C. output becomes a subjective measure of performance. D. the employee must accept risk of production variability.