Are the goods that businesses offer for "free" to consumers also free to society?
A. Yes, because the marginal benefit is greater than the marginal cost.
B. No, because society does not assign a value to free goods.
C. Yes, because the individual consumer does not have to pay for them.
D. No, because scarce resources were used to produce the free goods.
Answer: D
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Which of the following groups is most likely to be included in the calculation of real GDP per hour worked?
a. Government workers b. Pensioners c. Workers in multinational corporations d. Farmers
Paying interest on external government debt rather than on domestic debt produces:
A. a redistribution of income within the country. B. no change in the level or distribution of domestic income. C. a net reduction in domestic income. D. a net increase in domestic income.
Economies of scale are an important determinant of comparative advantage based trade
Indicate whether the statement is true or false
Economic variables that generally move in tandem with the overall phases of the business cycle are called:
A) leading indicators. B) coincident indicators. C) lagging indicators. D) none of the above.