Three uses of gdp data
What will be an ideal response?
estimate living standards, measure economic growth, determine whether an economy is experiencing recessuin or expansion
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The use of eminent domain is probably more justifiable if the parcels of land needed for a project are
A) contiguous. B) noncontiguous. C) owned by the federal government. D) owned by one party instead of many parties.
Refer to the table above. You are told that Country B has no minimum wage or child labor laws. Now the correct answer is
A) country B will export good S. B) country A will export good S. C) both countries will export good S. D) trade will not occur between these two countries. E) both countries will import good S.
Raiman's Shoe Repair also produces custom-made shoes. When Mr. Raiman produces 12 pair a week, the MC of the twelfth pair is $84, and the MR of that unit is $70 . What would you advise Mr. Raiman to do?
a. shut down b. produce more custom-made shoes c. stay at 12 pairs a week d. produce fewer custom-made shoes e. decrease price
Some sellers of used cars provide warranties to buyers, with the aim of reassuring buyers that the car is of good quality. These warranties help reduce the chance of what occurring?
A. Negative externalities. B. Adverse selection. C. Spillover benefits. D. Moral hazard.