The presence of discouraged workers may cause:
A. GDP to be too large.
B. the employment rate to be understated.
C. the unemployment rate to be overstated.
D. the unemployment rate to be understated.
Answer: D
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A family's income tax liability is
a. a standard percentage of all income earned. b. determined by wage income rather than dividend and interest income. c. based on total income. d. constant from year to year.
Which of the following is directly included in the calculation of GDP?
A. The final sale of a brand new Cadillac. B. The appreciation in value of shares of stock. C. The sales of land to a builder. D. The sales of sand to a glassmaker.
The positive view of advertising suggests that it contributes to economic efficiency in the economy.
Answer the following statement true (T) or false (F)
Credit cards are NOT a part of the M1 or M2 money supply.
Answer the following statement true (T) or false (F)