Which of the following is not included in GDP?
A) Unpaid maintenance of your house by your spouse.
B) Services such as those provided by lawyers and dentists.
C) The estimated rental (imputed) value of owner-occupied housing.
D) Production by foreign citizens in the U.S.
A
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Under the social interest theory of regulation, the goal of regulating natural monopolies is
A) to provide a larger, though not maximum, profit for the firms. B) to use average cost pricing. C) to provide an outcome similar to the competitive outcome. D) to provide a the maximum profit for the firms. E) None of the above answers is correct.
If the real rate of return is 5 percent, and the inflation rate is 2 percent, then the nominal interest rate must be:
A. 7 percent. B. 3 percent. C. ?3 percent. D. ?7 percent.
Paul and Maggie advertise for a babysitter. Jenny is the only one who answers the ad and she's hired. She asks for $7 per hour and gets it. She occasionally thinks of raising the rate to $10 but is afraid that Paul and Maggie will decide to advertise again. This tale is analogous to
a. monopolistic competitive pricing b. the idea of nationalization c. contestable markets d. laissez-faire e. creative destruction
Foreign aid is given through which organization?
A. UNDP B. IBRD C. IDA D. Foreign aid is given through all these organizations.