Much of a person's increased productivity can be linked to
A) on-the-job training.
B) the prevalent marginal tax rate.
C) the price elasticity of demand for the product.
D) the income elasticity of demand for the product.
A
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An open economy has ________ included in the GDP
A) unemployment B) net exports C) taxation factors D) salary increases
When there is a tendency for a particular product to fall out favor with additional consumers because other consumers have chosen not to purchase the product
A) negative market feedback occurs. B) positive market feedback occurs. C) the tit-for-tat strategy will begin. D) the network effect will increase.
How did the collapse of the housing bubble cause a contraction in output?
A. Because banks were unwilling to lend, many businesses were suddenly unable to access credit for their day-to-day needs. B. When homeowners lost value in their homes, they stopped saving, which reduced banks' ability to lend. C. Because consumers lost confidence in the banking industry, they stopped depositing money, so banks could no longer lend. D. When banks wanted to make loans, but couldn’t find any credit-worthy customers to loan to.
Upon getting a big promotion, Sally decides to buy a house in the neighborhood she grew up in as a child. In fact, the house she buys used to belong to a neighbor of hers, and so she's certain it's in good shape and well worth the $200,000 she pays for it. The only thing Sally needs to do is replace all the gutters for $1,000, which she happily does. How will GDP be affected by Sally's recent purchases?
A. Consumption will increase by $210,000. B. GDP will increase by $1000. C. Consumption will increase by $1,000, and investment will increase by $200,000. D. Investment will increase by $201,000.