Phantom capital gains occur when _____
a. an asset increases in real terms, but not in nominal terms
b. an asset is constant in real terms, but increases in nominal terms
c. an asset decreases in real terms and decreases in nominal terms
d. an asset is purchased to be used upon an individual's death
b
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If the price of an Xbox player falls, then in the market for Xbox games
A) the demand curve for Xbox games shifts rightward. B) the demand curve for Xbox games shifts leftward. C) there is a movement downward along the demand curve for Xbox games. D) there is a movement upward along the demand curve for Xbox games.
Which of the following quotations best captures the idea of opportunity cost?
a. "Opportunity knocks but once." b. "Every choice involves a sacrifice." c. "Let's not ask for the moon; we have the stars." d. "Fools rush in where wise men fear to tread." e. "All that glitters is not gold."
If one producer is able to produce a good at a lower opportunity cost than some other producer, then the producer with the lower opportunity cost is said to have an absolute advantage in the production of that good
a. True b. False Indicate whether the statement is true or false
The purchase of a new house is the one form of
a. investment that is financed by private saving rather than public saving. b. household spending that is not counted as part of investment in the national income accounts. c. household spending that is investment rather than consumption. d. household spending that does not contribute to GDP.