Which of the following would be included in a year's GDP?
a. Susan cleans the fuel injectors on her car.
b. A private individual purchases 100 shares of IBM stock.
c. A timber company purchases land in Oregon.
d. A man buys an antique desk from his neighbor.
e. A college professor purchases a new computer.
E
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In the United States, the distribution of wealth
A) is the same as the distribution of income. B) is more unequal than the distribution of income. C) is more equal than the distribution of income. D) is equal for all families.
Answer the following statements true (T) or false (F)
1) Refer to the diagram for a nondiscriminating monopolist. At output M total cost will be 0CHM.
2) Refer to the diagram for a nondiscriminating monopolist. From society's point of view it would be desirable to have the monopolist produce a larger output than M.
3) Refer to the diagram for a nondiscriminating monopolist. If the government regulates the monopolist so that it charges the "fair return" price, the monopolist will produce output N.
4) Refer to the diagram for a nondiscriminating monopolist. If the government regulates the monopolist so that it charges the socially optimal price, the monopolist w