Blog

The GDP of the United States includes production by foreign-owned firms that are located in the United States.

Which of the following would not cause the market supply of cell phones to change?

Value added is the

The redistributive mechanics of inflation include all of the following except

In economics, a public good

If a nation experiences a year of unusually high immigration that increases the size of the labor force, we can conclude that the

An inflation goal set at a low rate but greater than zero allows all of the following except

If production in the economy is efficient, then changes in market prices

Governments usually build highways because it is difficult to exclude individuals who don’t pay for the highways from using them. What type of market failure is involved?

Savings equal the difference between personal income and consumption.