Which of the following is not included in GDP?
a. the fees for legal services rendered by your attorney
b. the replacement of brake pads on your six-year-old vehicle
c. cash income paid to a day laborer that is not reported to the tax authorities
d. the payments for a chiropractor's services
c
Economics
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With a home monopolist, the imposition of a tariff results in:
a. a higher deadweight loss than a quota. b. a higher price for consumers than a quota. c. a lower deadweight loss than a quota. d. the same welfare effects as a quota.
Economics
Higher interest rates in the United States will attract foreigners to U.S interest-earning assets. This
A) decreases U.S. net exports. B) increases U.S. net exports. C) decreases U.S. imports. D) will have no effect on net exports.
Economics