Real GDP equals nominal GDP
a. minus exports.
b. corrected for changes in the price level.
c. minus personal income taxes.
d. minus retail sales taxes.
B
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Which of the following would not be an external cost associated with gambling?
A. The increase in homelessness associated with casinos B. The increase in crime near casinos C. The cost of security at casinos D. The effects on the gamblers' family
All of the following are characteristics of a bond except
A) the coupon payment is the interest payment on the bond. B) a bond represents a promise to repay a fixed amount of funds. C) bonds generally pay dividends each year. D) the face value is repaid when the bond matures.
The interest rate on a consol equals the
A) price times the coupon payment. B) price divided by the coupon payment. C) coupon payment plus the price. D) coupon payment divided by the price.
The production possibilities frontier provides an illustration of the principle that
a. trade can make everyone better off. b. governments can sometimes improve market outcomes. c. people face trade-offs. d. people respond to incentives.