Which of the following is currently the primary source of funding for R&D?
a. Private industry
b. Universities and colleges
c. Nonprofit organizations
d. Federal government
a. Private industry
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Which of the following allows an economist to conclude that the welfare or happiness of society as a whole is clearly increasing?
A) A decrease in nominal GDP B) A decrease in real GDP C) An increase in nominal GDP D) An increase in real GDP E) None of the above.
Perfectly competitive markets are:
A. the most common type of market in our economy. B. hard to find in a real world setting. C. made up principally by consumer goods. D. typically found in industrial sectors of our economy.
The U.S. government counts both cash income and in-kind transfers when determining the poverty rate.
Answer the following statement true (T) or false (F)
An increase in the marginal propensity to import will cause
A) the ZZ line to become flatter and a given change in government spending (G) to have a larger effect on domestic output. B) the ZZ line to become flatter and a given change in government spending (G) to have a smaller effect on domestic output. C) the ZZ line to become steeper and a given change in government spending (G) to have a larger effect on domestic output. D) the ZZ line to become steeper and a given change in government spending (G) to have a smaller effect on domestic output.