Which of the following is an example of capital?
a. pizza ovens
b. bulldozers
c. a college education
d. carpentry skills
e. all of the above
E
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Consumption spending is $5 million, planned investment spending is $8 million, unplanned investment spending is $2 million, government purchases are $10 million, and net export spending is $2 million. What is aggregate expenditure?
A) $15 million B) $23 million C) $25 million D) $27 million
Refer to the table below. What is the probability of selling exactly 24 cakes?
The above table shows the probability distribution of cake sales at Busy Betty's Bakery.
A) 0.20
B) 0.90
C) 0.00
D) 0.10
When economists want to hold a number of factors constant, they are demonstrating which of the following expressions?
A. Positive economics model. B. Consumer sovereignty. C. Ceteris paribus. D. Normative economics.
Suppose a country that has been pegging its currency is faced with a situation where financial market participants now expect some future devaluation. In such a situation, we would generally expect which of the following to occur?
A) a reduction in the domestic interest rate B) an announcement by the central bank that a large devaluation will occur in the near future C) reduction in demand for the country's currency D) all of the above E) none of the above