An example of "investment" in computing real GDP using the expenditure approach is the purchase of
A) a new set of tools by an auto mechanic, for use in repairing cars.
B) 100 shares of IBM stock.
C) a 100 year old house by a married couple.
D) computer chips by Dell to put in their personal computers.
A
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The above table shows the distribution of income and wealth in Miseria. What percent of income is earned by the richest twenty percent?
A) 5 percent B) 20 percent C) 45 percent D) 55 percent
The Solo Coal Mine is the only employer in the small town of Way out there. The market supply of coal miners is Qs = 0.02W - 400 and Qd = 500 - 0.02W, where W is the annual wage of a coal miner and Q is the number of coal miners. What is the profit maximizing number of coal miners for the coal mine to hire?
A. 300 B. 150 C. 100 D. 33.33
The statement "American workers are lazy" is an example of positive economic analysis
a. True b. False Indicate whether the statement is true or false
Technically, the accelerator relates the level of an economy's investment to the change in its
a. level of national income b. economic growth rate c. ratio of saving to personal income d. ratio of investment to personal income e. rate of depreciation of capital stock