Discuss the components of GDP using the expenditure approach.
What will be an ideal response?
GDP equals consumption spending plus investment spending plus government spending plus net exports; GDP = C + I + G + (X ? M).
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The above figure shows the marginal social benefit and marginal social cost curves of chocolate in the nation of Kaffenia. What is the efficient quantity of chocolate to produce each day?
A) zero B) 100 pounds C) 150 pounds D) 250 pounds
What is the relationship between marginal cost and fixed cost?
What will be an ideal response?
If Johanna purchases a bond for $4,500 that promises to pay her $5,000 one year later, what is the interest rate on the bond?
a. 5.3 percent b. 5.6 percent c. 10.0 percent d. 11.1 percent e. 10.5 percent
If farm price supports gave farmers 80 percent parity in 1950 and 60 percent parity in 1975, then we know that
a. the ratio of farm income to nonfarm income was higher in 1975 than in 1950 b. the ratio of farm income to nonfarm income was higher in 1950 than in 1975 c. the ratio of farm prices to nonfarm prices was higher in 1975 than in 1950 d. the ratio of farm prices to nonfarm prices was higher in 1950 than in 1975 e. farmers were better off in 1975 than in 1950