Net domestic product equals:
A. consumption + investment + government purchases + net exports - net foreign factor income.
B. consumption + investment + government purchases + net exports - change in inventories.
C. consumption + investment + government purchases + net exports - depreciation.
D. consumption + investment + government purchases + net exports - profits.
Answer: C
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According to Robert Reich, Secretary of Labor in the Clinton administration,
A. the identity of American companies is clear, and laws should be written accordingly. B. foreign companies are clearly different from American companies. C. multinational companies have clear bases of operations, which form their identity. D. it is almost impossible to define the nationality of a multinational company. E. identifying the country of origin of a product is almost impossible but essential for proper regulation.
Since the 1930s, out-of-pocket payments for health care have
A) declined from about 50 to 30 percent of total payments. B) declined from about 95 to 20 percent of total payments. C) declined from about 70 to 30 percent of total payments. D) not changed and remain at 70 percent of total payments.
Which of the following is not considered a barrier to entry into a monopoly market?
A. having a natural monopoly. B. ownership of a key resource. C. government intervention. D. an new product-type is offered.
The economic way of thinking indicates that personal benefits and costs influence the actions of
A) consumers in the private sector but not voters in the public sector. B) taxpayers, but not recipients of government-provided goods and services. C) consumers, producers, voters, and politicians in both the private and the public sectors. D) producers in the private sector but not politicians in the public sector.