The existence of the "underground economy" causes measured GDP to overestimate actual output
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Using the same mpc and multiplier as before (we had chosen the example where mpc = 0.8, resulting in mult = 5)
What will be an ideal response?
Which of the following is true of marginal revenue product (MRP) and marginal product (MP)?
a. MRP = MP ? price, whether the firm is a price searcher or not. b. MRP = MP ? price only if the firm is a price searcher. c. MRP = MP ? price only if the firm sells in a perfectly competitive market. d. MRP = MP ? marginal cost only if the firm is a price searcher. e. MRP = MP/price only if the firm is a price taker.
In second-degree price discrimination it is true that
A. the monopolist cannot earn economic profits. B. people who buy a lot pay a lower price. C. people who buy relatively little pay a lower price. D. the market need not be segmented.
If a good is income inelastic what does this imply would happen to consumption of this good if you were to win the lottery?
What will be an ideal response?