In order for bartering to work, there needs to be 1. Market perfection 2. Double coincidence of wants                  3. Limited government intervention        4. Mass Liquidity Group of answer choices

Which of the following is included in Singapore’s GDP? The value of production by a Singaporean working in the U.S. The value of production by an American company in Singapore The value of production by a Singaporean that crosses the border to work in Malaysia All of the above are correct

What word do economists use to refer to the purchase of goods that will be used in the future to produce more goods and services? capital consumption investment costs

If the central bank in some country raised the reserve requirement, then the money multiplier for that country     would decrease would increase would not change could do any of the above

In a perfectly equal distribution of income among a population, the Lorenz curve would:1. Form a straight line at a 45-degree angle from the origin2. Be a horizontal line at the top of the graph3. Lie entirely along the diagonal of the graph4. Form a vertical line at the maximum income level

If a country’s GDP is $10 trillion, and its consumption expenditure is $7 trillion, what is the value of its net exports if investment and government spending are both $2 trillion?1. -$2 trillion2. -$1 trillion3. $1 trillion4. $2 trillion

If a company’s stock price is $100 and its Price Earnings ratio is 10.  There are also, 10 million shares outstanding of the company.  What is the companies market cap?   1. $1 billion 2. $10 billion 3. $100 billion 4. $100 million

Which of these is the most ELASTIC in demand? 1. textbooks for school 2. car needed to go to work 3. life saving medicine 4. McDonald hamburgers

Which group of individuals are strong against the ideas of taxation 1. liberals 2. progressives 3. democrats 4. libertarians

In which of the following situations would supply be the most elastic?   A real estate developer in Boston is looking to build condos on the beach An auto parts manufacturer is operating at full capacity An online book company that sells its ebooks to students A hotel has all of its rooms booked for each night of the next 3 months