Which of the Following Statements Best Describes the Activities of a Whistle-Blower

question 32

Multiple Choice

Which of the following statements best describes the activities of a whistle-blower?

• A)An employee is unhappy because his company is downsizing.
• B)An employee tells the Consumer Product Safety Commission his company falsified safety reports on a child's car seat.
• C)A salesperson for a company finds out that a member of his softball team,who works for another firm,"borrowed" some paper clips from that firm to use for his personal use and wants to "tell on him."
• D)An employee criticizes his employer's finance personnel to his fellow co-workers for picking the wrong stocks in his retirement fund;they lost value last year due to a downturn in the stock market.
• E)An employee spends the afternoon at work studying for her test rather than counting inventory as she was supposed to be doing.

Distinguish between nominal GDP, real GDP, and GDP deflator.

Understand the impact of population growth, inflation, and deflation on GDP and real per capita GDP.

Analyze the factors that may cause GDP to overstate or understate economic well-being.

Differentiate between final goods and intermediate goods and their roles in GDP calculation.

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Definitions:

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that sellers are willing to supply.

Upward Sloping

A term often used in economics to describe a curve or line that increases in height as it moves from left to right, indicative of a positive relationship between two variables.

Compact Disc

A physical medium for the storage and playback of digital audio and data, utilizing laser technology for reading and writing information.

Average Costs

Calculated by dividing the total cost of production by the quantity of output produced, indicating the cost per unit of output.