Intermediate goods are included and final goods are not included in calculating gross domestic product
a. True
b. False
Indicate whether the statement is true or false
False
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For the typical student, taking an introductory course in economics should
a. turn the student into an economist. b. teach the student solutions to most social problems. c. teach the student how to answer complex social questions. d. help the student learn to make rational decisions. e. All of the above are correct.
Suppose Vinnie is looking for a month-long vacation rental in San Diego. The first vacation rental Vinnie finds costs $800 per month. If he looks for another vacation rental, there's a 75 percent chance he'll find another one for $800 per month and a 25 percent chance he'll find one for $600 per month. Other than price, all of the vacation rentals are identical. Vinnie's marginal cost of searching for an additional vacation rental is $45. Since searching for another apartment is a ________ gamble, if Vinnie is risk-neutral, then he ________ search for another apartment.
A. better-than-fair; will not B. fair; will not C. fair; will D. better-than-fair; will
Owners of a proprietorship have ________ liability and stockholders in a corporation have ________
A) limited; limited B) limited; unlimited C) unlimited; unlimited D) unlimited; limited
Which of the following has occurred as the millennial generation has come of age?
A) The demand for "fast casual" food has decreased in the U.S. market. B) The demand for golf equipment has increased in the U.S. market. C) The demand for traditional fast food has decreased in the U.S. market. D) all of the above