The price-corrected value for Gross Domestic Product is
A. per capita income.
B. real Gross Domestic Product (GDP).
C. net national product.
D. net Gross Domestic Product (GDP).
Answer: B
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Moody's gives junk bonds a rating below
A) Aaa. B) Aa. C) A. D) Baa.
Suppose the long-run cost function is C = 3q. What is the cost-output elasticity for this case?
A) 1 B) 3 C) 1/3 D) 2
Suppose there are 50 million persons in the population, 25 million persons in the civilian labor force, and 20 million persons are employed. The number of persons unemployed is _______ million and the unemployment rate is ___________ percent
A) 25; 50 B) 5; 10 C) 5; 20 D) 10; 10
Grown children fawning over an elderly parent in order to try to secure a larger inheritance is an example of
A) rent seeking. B) logrolling. C) rational ignorance. D) public choice.