If the utility for two goods "x" and "y" can be measured as U = x, then it can be concluded that
A) "x" and "y" are perfect complements.
B) "y" is a "bad".
C) the indifference curves on the x,y graph are upward sloping where "x" is measured on the horizontal axis.
D) the indifference curves on the x,y graph are vertical where "x" is measured on the horizontal axis.
D
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Seasonally adjusted unemployment rates
A) are the same as the unadjusted rates in periods of bad weather. B) are not calculated for the U.S. economy. C) adjust for the predictable summer increase in the unemployment rate for teenagers. D) adjust for the predictable summer decrease in the unemployment rate for teenagers.
Two methods of measuring GDP are
A) the income approach and the expenditure approach. B) the income approach and the receipts approach. C) the goods approach and the services approach. D) the saving approach and the investment approach.