The increase in the proportion of women in the labor force causes GDP to _____ the growth in economic well-being because _____.
A. overstate; some of the services that women formerly provided in the home are now purchased in the market
B. overstate; the services that women provide in the home do not contribute to economic well-being
C. understate; some of the services that women formerly provided in the home are now purchased in the market
D. understate; the services that women provide in the home do not contribute to economic well-being
overstate; some of the services that women formerly provided in the home are now purchased in the market
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Before they can be used in regular exchanges, the assets that make up M2 must often
A) be paid off if they are credit cards. B) be converted to M1 assets. C) have their interest computed. D) have reached term if they are insurance policies.
As more people start using an operating system, more applications are developed for it. This makes the system more valuable to individual users. This is an example of a ________
A) pecuniary externality B) network externality C) positive externality D) negative externality
Unanticipated inflation penalizes: a. those who are saving
b. those who are borrowing. c. governments. d. those who are in high-growth industries where wages are growing faster than prices. e. those who can't find jobs at any wage rate.
Ever since the creation of the interstate highway system, the railroads have had to compete with trucks for freight shipments. Union Pacific, the nation's largest railroad, now offers door-to-door services to clients, using their own trains and trucks. This must be the result of:
a. horizontal merger. b. vertical merger. c. conglomerate merger. d. deregulation. e. high fuel prices.