The purchase of a new Boeing fighter jet by Israel is classified in the U.S. GDP accounts as
A) import expenditure.
B) export expenditure.
C) consumption expenditure.
D) investment expenditure.
E) government expenditure.
B
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The table above shows a total product schedule. Suppose that labor costs $20 per worker and fixed costs are $60. The total variable cost of producing 80 units equals
A) less than $50. B) more than $50 and less than $70. C) more than $70 and less than $90. D) more than $90 and less than $120. E) more than $120.
Which of the following countries has the largest union membership measured as the percentage of civilian employees in unions?
a. The United States. b. Japan. c. The United Kingdom. d. Sweden.
One of the key reasons why monopolies exist is:
A. there is easy entry and exit into and out of the market. B. the goods sold are highly inaccessible to buyers. C. geographical differences. D. there are barriers to entry into the market.
Which statement is false?
A. In general, Japanese firms are more concerned with product quality than American firms are. B. There is no one explanation for the rising Japanese trade surplus. C. There is no single remedy for our huge trade imbalance. D. None of these statements are false.