Over the last 50 years, has the ratio of household production to gross domestic product in the United States increased or decreased? Consider the effect of the increased number of women working outside the home, and the effect of advances in technology
in household production such as microwaves, coffee makers, power tools, etc.
What will be an ideal response?
"Household production" refers to goods and services people produce for themselves. It is not clear whether the ratio of household production to gross domestic product has increased or decreased. More women working outside the home has decreased the ratio of household production to GDP, but the technological advances at home have allowed people to produce more household production in less time.
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A tariff on imported peanuts ________ the quantity of peanuts imported and ________ the domestic price of peanuts
A) decreases; decreases B) decreases; increases C) increases; lowers D) does not change; increases
Thrift institutions encountered serious difficulties in the 1970s because: a. money market mutual funds became serious competitors for their deposits
b. the U.S. Treasury deposited larger sums of money than the thrift institutions could effectively manage. c. the interest rates they had to pay on deposits began to fall. d. each of the largest banks increased the pressure on the thrifts by building a nationwide network of branch banks. e. the FDIC increased the reserve requirement for thrifts.