Which of the following goods' prices are not considered when calculating core inflation?
A. entertainment
B. clothing
C. housing
D. food
Answer: D
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In a market economy, what provides potential investors with reliable information about the financial performance of a firm?
A) contracts B) insurance C) patents D) accounting rules
According to economic theory what is the optimal percentage of GDP to be spent on medical care?
a. 6 percent. b. 8 percent. c. 10 percent. d. 12 percent. e. There is no widely-accepted way to determine the optimal percentage.
The marginal (dollar) cost of an additional plate of food to a patron at an "All-You-Can-Eat" restaurant is: a. equal to the price paid for the meal divided by the number of plates of food consumed. b. equal for every plate of food consumed during the meal
c. equal to zero. d. equal to the price paid for the meal (since there is no such thing as a free lunch).
If the government owns a nationalized firm, the prices are
a. set by an administrative agency of the government b. set by the free market c. high enough to make economic profits for the government d. determined by competition e. set to encourage efficiency and reduce waste