Which of the following is not a type of resistance
a. logical
b. psychological
c. sociological
d. biological
Ans: d. biological
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The lower the price, the lower the producer surplus, all else equal
a. True b. False Indicate whether the statement is true or false
The value of intermediate goods is excluded from the measurement of GDP in order to:
A. measure GDP in constant prices. B. avoid double counting. C. adjust for inflation. D. index economic activity.
The absence of clear property rights inhibits investment and economic growth
Indicate whether the statement is true or false
As of 2013, annual imports to the U.S. were approximately ____ and annual exports from the U.S. were approximately ____
a. $0.6 trillion; $1.5 trillion b. $2.2 trillion; $0.7 trillion c. $2.7 trillion; $2.3 trillion d. $1.5 trillion; $2.0 trillion e. $2.0 trillion; $2.0 trillion