Which of the following tools is used to compare the income per capita across countries?
A) Purchasing power parity B) The headcount index
C) The GDP deflator D) Production possibilities frontier
A
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Claude's Copper Clappers sells clappers for $40 each in a perfectly competitive market. At its present rate of output, Claude's marginal cost is $39, average variable cost is $25, and average total cost is $45 . To improve his profit/loss situation, Claude should
a. increase output b. reduce output but not to zero c. maintain the present rate of output d. shut down e. raise the price
Which of the following is a government expenditure, but is not a government purchase?
A) The federal government buys a Humvee. B) The federal government pays the salary of an FBI agent. C) The federal government pays out an unemployment insurance claim. D) The Federal government pays to support research on AIDS.