All of the following would be included in aggregate expenditure except
A. social security payments.
B. changes in inventories.
C. sales of domestically produced goods to foreigners.
D. purchases of services provided by government employees.
Answer: A
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Frictional unemployment includes
A) unemployment caused by normal labor turnover associated with people leaving and entering the labor force. B) unemployment caused by industries moving overseas to better meet foreign competition. C) unemployment caused by a lack of education so that workers do not possess necessary job skills. D) unemployment caused by automation of the work place that displaces unskilled workers.
Which of the following is an important cause of inflation in an economy?
a. increases in productivity in the economy b. the influence of positive externalities on the economy c. lack of property rights in the economy d. growth in the quantity of money in the economy
Which of the following is an example of a transfer payment?
a. purchase of a producer good b. purchase of a service c. fixed investment d. farm subsidy
In which of the following sets of antitrust cases did the government gain convictions?
A. The U.S. Steel case and the Microsoft case. B. The Alcoa case and the Microsoft case. C. The DuPont cellophane case and the AT&T case. D. The U.S. Steel case and the Alcoa case.