Which of the following is included in Singapore's GDP?
a. The value of production by a Singaporean working in the U.S.
b. The value of production by an American working in Singapore
c. The value of production by a Singaporean that crosses the border to work in Malaysia.
d. All of the above are correct.
b
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Let "C = Ca + by" define the consumption function. The term "by" is
A) the marginal propensity to consume. B) autonomous consumption. C) current income. D) consumption that depends on income.
An example of moral hazard is
a. people drive less carefully in icy conditions with antilock brakes than without b. people drive as safely with more airbags as without c. football players avoid 'spearing' with their heads even with safer helmets d. people read the medicine warnings as carefully when self-medicating as with a doctor's prescription