In March 2015, many college students bet on the NCAA finals in dorm gambling pools. This is an example of
a. real vs. nominal GDP.
b. the assumed value of household production.
c. underground economic activity.
d. the implicit value of leisure time.
e. a "bad" versus a "good."
c
You might also like to view...
How can banks increase the amount of loanable funds available for private lending?
(a) By selling government securities to securities dealers and the Federal Reserve System (b) By buying government securities from securities dealers and the Federal Reserve System (c) By buying stocks, property and other assets to hold on behalf of the banks (d) By holding 100 percent of customers' deposits in bank vaults
In the above figure, Graph D with units of capital on the vertical axis and units of labor on the horizontal axis implies that
A) the marginal product of labor is increasing as more labor is employed. B) the marginal product of labor is decreasing as more labor is employed. C) the capital and labor are perfect substitutes. D) capital and labor have to be employed in fixed proportions.
Assume that Y is normally distributed N? (??, ?2?). Moving from the mean ?(??) 1.96 standard deviations to the left and 1.96 standard deviations to the? right, then the area under the normal p.d.f.? is:
A) 0.67 B) 0.05 C) 0.95 D) 0.33
Suppose the number of pesos per U.S. dollar is 3 . The aggregate price level in Mexico is 90, and the real exchange rate between the two countries is 2 . The aggregate price level in the United States is _____
a. 60 b. 45 c. 50 d. 55