In GDP calculations, the work of stay-at-home parents is
A. counted only for equivalent hours.
B. counted as intermediate inputs.
C. not counted.
D. counted at 50%.
Answer: C
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The figure above shows the market for transportation services, which produces an external cost due to the air pollution that is created. The efficient quantity of transportation services is ________ and the corresponding price is ________
A) 120; $14 B) 120; $8 C) 80; $12 D) 80; $6
Refer to Figure 2-6. If the economy is currently producing at point D, what is the opportunity cost of moving to point B?
A) 60 thousand spoons B) 0 forks C) 16 thousand spoons D) 46 thousand forks
Which of the following is an example where price discrimination occurs?
a. quantity discounts b. Disney World c. theatres in New York City d. all of the above
The tax on cigarettes is an example of
a. a consumption tax. b. a corrective tax. c. an income tax. d. a command-and-control policy.